Is this usage of LOC funds tax deductible?

Hi

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.

Cheers,

Rob
 
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.
Marg
 
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