My stupid question for today is how do I use a LOC to fund the small stuff?
The scenerio is that I trot off to bunnings to grab some stuff for IP and I pay by credit card. Judging by the comments from this thread, I cannot "reimburse myself" by transferring the funds from LOC to credit card. How would I go about this to make the credit card purchase tax deductible?
If it makes any difference, the credit card has been used to purchase personal items in the past and the debt has been paid off.
Thanks
The scenerio is that I trot off to bunnings to grab some stuff for IP and I pay by credit card. Judging by the comments from this thread, I cannot "reimburse myself" by transferring the funds from LOC to credit card. How would I go about this to make the credit card purchase tax deductible?
If it makes any difference, the credit card has been used to purchase personal items in the past and the debt has been paid off.
Thanks