G'day everyone
After quite some time I have finally got finance to purchase my first Investment Property or part of it for now anyway. It is a house/land package and I have a loan approved for for the land component which should settle in a couple of weeks.
But
I am not in a position to have the contruction loan approved for another month to 6 weeks. Therefore I will be paying the interest on the land.
Will this interest be claimable? and will I be able to apply for the tax variation?
After quite some time I have finally got finance to purchase my first Investment Property or part of it for now anyway. It is a house/land package and I have a loan approved for for the land component which should settle in a couple of weeks.
But
I am not in a position to have the contruction loan approved for another month to 6 weeks. Therefore I will be paying the interest on the land.
Will this interest be claimable? and will I be able to apply for the tax variation?