Hi guys
I have a question with regard to what interest payments are deductible for an investment property.
I purchased my investment property utilising monies from “equity” I had available within my own home (ie. via a redraw facility) to pay 20% of the investment property purchase price plus all the monies required for stamp duty and other government charges.
The balance of monies (ie. 80% ) of the property value I then obtained through a separate investment loan taken out with the bank.
Am I able to claim all the interest I have payed (ie. from both these loans) as an expense for the investment property which would also include the monies for the stamp duty.
Appreciate any feedback
I have a question with regard to what interest payments are deductible for an investment property.
I purchased my investment property utilising monies from “equity” I had available within my own home (ie. via a redraw facility) to pay 20% of the investment property purchase price plus all the monies required for stamp duty and other government charges.
The balance of monies (ie. 80% ) of the property value I then obtained through a separate investment loan taken out with the bank.
Am I able to claim all the interest I have payed (ie. from both these loans) as an expense for the investment property which would also include the monies for the stamp duty.
Appreciate any feedback