From: Patrick Bruadair
A question on loan interest tax deductions.
I understand that interest on loans for income producing assets is deductible e.g. IP purchase, share purchase. What about the various expenses associated with these income producing assets? If an investor uses a redraw or LOC facility to pay for expenses such as wealth creation seminars (e.g. options trading or real estate purchase)plus associated travel, computer hardware/software, stationary, Jan Somers and other investment books, Shire and water rates for IPs, accountants fees etc etc., is this interest deductible?. Could be worth a bit if it is.
Rgds
Pat
A question on loan interest tax deductions.
I understand that interest on loans for income producing assets is deductible e.g. IP purchase, share purchase. What about the various expenses associated with these income producing assets? If an investor uses a redraw or LOC facility to pay for expenses such as wealth creation seminars (e.g. options trading or real estate purchase)plus associated travel, computer hardware/software, stationary, Jan Somers and other investment books, Shire and water rates for IPs, accountants fees etc etc., is this interest deductible?. Could be worth a bit if it is.
Rgds
Pat
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