If you borrow over 100% of purchase costs, so that the loan covers all associated costs including government stamp duty, inspections conveyancing etc, is all of that interest deductible – or only the portion relating to the actual purchase price of the property?
I’m pretty sure that, as the entire loan is for the purpose of purchasing an income producing asset, then it is – but I’ve not been able to find a specific answer.
Cheers.
I’m pretty sure that, as the entire loan is for the purpose of purchasing an income producing asset, then it is – but I’ve not been able to find a specific answer.
Cheers.