Hi all,
I have searched the forums, and found partial answers to my questions, but i'm still not sure I fully understand.
If I have a LOC against my PPOR, and I have used the PPOR only for activities related to my IP properties, then I can claim the interest as a tax deduction - is it that straight forward ?
Now, some of the payments from this LOC have been used for
1. Deposit on IP1 - settled Sept 2009
2. Deposit on IP2 - Settles approx July 30 2010
3. Building / pest reports on IP1
4. Building / pest reports on a property I didn't end up buying.
5. Payment of home loan interest on IP1
6. Depreciation report IP1
7. Body Corp fees IP1
8. Council Rates / Water - IP1
9. Conveyancing fees - IP1.
Do any of the above complicate in any way, my simple view (stated above) of the tax deductions I can claim?
Thanks.
Neil
I have searched the forums, and found partial answers to my questions, but i'm still not sure I fully understand.
If I have a LOC against my PPOR, and I have used the PPOR only for activities related to my IP properties, then I can claim the interest as a tax deduction - is it that straight forward ?
Now, some of the payments from this LOC have been used for
1. Deposit on IP1 - settled Sept 2009
2. Deposit on IP2 - Settles approx July 30 2010
3. Building / pest reports on IP1
4. Building / pest reports on a property I didn't end up buying.
5. Payment of home loan interest on IP1
6. Depreciation report IP1
7. Body Corp fees IP1
8. Council Rates / Water - IP1
9. Conveyancing fees - IP1.
Do any of the above complicate in any way, my simple view (stated above) of the tax deductions I can claim?
Thanks.
Neil