Hi everyone. Just a quick question...
2008:
PPOR loan - 300K (with redraw and offset facilities), 50K offset
2009:
Redrew 100K from PPOR to buy 1 IP
PPOR loan - 400K (with redraw and offset facilities), 50K offset
IP loan - 500K
2010:
"Influx" of cash - 300K
PPOR loan - 400K (with redraw and offset facilities), 350K offset
IP loan - 500K
With my current offset at 350K and PPOR loan of 400K, I'm essentially just paying interest on 50K.
However, I did redraw 100K earlier for IP1 making interest on the 100K tax deductible.
So my question is, do I still claim tax deductibility on 100K knowing that I now only pay interest on 50K due to the recent cash influx in my offset or do I apportion tax deductibility?
Thanks!
2008:
PPOR loan - 300K (with redraw and offset facilities), 50K offset
2009:
Redrew 100K from PPOR to buy 1 IP
PPOR loan - 400K (with redraw and offset facilities), 50K offset
IP loan - 500K
2010:
"Influx" of cash - 300K
PPOR loan - 400K (with redraw and offset facilities), 350K offset
IP loan - 500K
With my current offset at 350K and PPOR loan of 400K, I'm essentially just paying interest on 50K.
However, I did redraw 100K earlier for IP1 making interest on the 100K tax deductible.
So my question is, do I still claim tax deductibility on 100K knowing that I now only pay interest on 50K due to the recent cash influx in my offset or do I apportion tax deductibility?
Thanks!
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