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From: Dodo 800
Is anyone aware of the details for deductibility for prepaid interest for individuals. Apparently the rules changed late last year.
Specifically, can an individual prepay the interest on a negatively geared property late in a financial financial year, and claim the full interest deduction in the same financial year(along with the total monthly interest charged earlier)?
If this were to gain a tax advantage, would the ATO spoil the fun?
Is anyone aware of the details for deductibility for prepaid interest for individuals. Apparently the rules changed late last year.
Specifically, can an individual prepay the interest on a negatively geared property late in a financial financial year, and claim the full interest deduction in the same financial year(along with the total monthly interest charged earlier)?
If this were to gain a tax advantage, would the ATO spoil the fun?
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