Interest on loan whilst building

Hello,

Quick question, can you claim the interest on the loan whilst building an investment house & land package if though you don't have a tenant with income coming in?

Let me re-phrase - can you claim interest in that financial year, or is the interest classed as setup purchase costs & written off over 5 years?

Many thanks.
 
In a word - Yes. As long as you have the intention of using the asset to produce income when the building is complete.

Boods
 
Yes

one of ours at the moment we have had the block for 18 mths, slab going down this week


Applied the logic of ATO vs Steele and the acct has no problem with it

ta
rolf
 
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