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From: James Johnson
Hey everyone, I've only found this forum recently but I've read a lot of the archived posts and gained some fantastic ideas. There are a lot of selfless people here sharing what they so obviously enjoy.
My Q for those more experienced than myself (ie everyone), is to do with the FHOG. Some of the posts I have seen have been about how interest paid on a former home (now being rented out) is non tax deductible because the loan isn't an investment loan. However, to qualify for the FHOG you need to live in the property you're buying (or at least have 'the intention' to) which would presumably mean a non-investment loan and therefore non tax deductible interest payments. Is my reasoning faulty, or the world? Thanks in advance for any help on this matter.
Cheers Jimmy
Hey everyone, I've only found this forum recently but I've read a lot of the archived posts and gained some fantastic ideas. There are a lot of selfless people here sharing what they so obviously enjoy.
My Q for those more experienced than myself (ie everyone), is to do with the FHOG. Some of the posts I have seen have been about how interest paid on a former home (now being rented out) is non tax deductible because the loan isn't an investment loan. However, to qualify for the FHOG you need to live in the property you're buying (or at least have 'the intention' to) which would presumably mean a non-investment loan and therefore non tax deductible interest payments. Is my reasoning faulty, or the world? Thanks in advance for any help on this matter.
Cheers Jimmy
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