Hi guys.
i set up a new loan of $100k. It is svr attached to a transaction account. The $100k is now sitting in said transaction account. For my after deposit and stamo duty us paid. I have $20k left over....
If i repay the $20k from the transaction account back into the honeloan redraw and split that $20k into a line of credit. If i let interest capitalise where the direct debit for this property purchase being an ip vomes from this new loc... is the interest exoense on the loc deductible?
i set up a new loan of $100k. It is svr attached to a transaction account. The $100k is now sitting in said transaction account. For my after deposit and stamo duty us paid. I have $20k left over....
If i repay the $20k from the transaction account back into the honeloan redraw and split that $20k into a line of credit. If i let interest capitalise where the direct debit for this property purchase being an ip vomes from this new loc... is the interest exoense on the loc deductible?