Is this usage of LOC funds tax deductible?


I would like to take out a Line of Credit to pay off one of the loses of my Macquarie Capital Protected Fund. I just wanna get out of that fund ASAP, to stop paying interest on it.

So if I use my LOC for this purpose, is the interest tax deductible?
You need to be more specific.

Merely borrowing to make good a capital loss does not make interest tax deductible.


To be tax deductible the loan must be used to produce some sort of income.

Paying off a loss would not seem to fit that scenario.

Check with your accountant.