Hi Guys,
Currently my house is still being built! Was really hoping it would have been finished by now but a few delays with finance and the city council screwing up approvals resulted in the situation I am in now.
I am building an IP in Perth, it's 100% for Rental only, went through a developer who deals with IP's etc.
I have been doing some research and from what I can understand I can claim interest as long as property is only used for renting (which it will)
But can I claim borrowing costs and the myriad of other things while the property is still under construction?
Cheers,
Currently my house is still being built! Was really hoping it would have been finished by now but a few delays with finance and the city council screwing up approvals resulted in the situation I am in now.
I am building an IP in Perth, it's 100% for Rental only, went through a developer who deals with IP's etc.
I have been doing some research and from what I can understand I can claim interest as long as property is only used for renting (which it will)
But can I claim borrowing costs and the myriad of other things while the property is still under construction?
Cheers,