W
WebBoard
Guest
From: Geoff Perks
Any advice appreciated please:
Paying off own home & am going to build an IP in Melbourne which I intend to move into in say 5 years. Would love advice on:
(i) Do I have to wait until a tenant to claim interest and other expenses for tax deduction? Or can I claim for interest etc straight after buying land and during building process?
(ii) When I eventually move in to IP, besides selling costs involved in selling existing home, and not being able to claim deductions on IP anymore, are there any hidden costs I may not be aware of?
Anyone who has been in similar situation and can offer advice would be much appreciated.
Any advice appreciated please:
Paying off own home & am going to build an IP in Melbourne which I intend to move into in say 5 years. Would love advice on:
(i) Do I have to wait until a tenant to claim interest and other expenses for tax deduction? Or can I claim for interest etc straight after buying land and during building process?
(ii) When I eventually move in to IP, besides selling costs involved in selling existing home, and not being able to claim deductions on IP anymore, are there any hidden costs I may not be aware of?
Anyone who has been in similar situation and can offer advice would be much appreciated.
Last edited by a moderator: