From: Geoff Donges
<PRE>Hi Guys
Have been following this fantastic forum for about 3 months now & would like to thank all the contributors.
I would like to ask for opinions, not advice, on a little thing that's bothering me.
I (A) earn 75% & my wife (B) earns 25% of our income. We are in the process of buying our very first IP, a 2 brm unit in Canberra. Following logic from the books I have read etc we took out the loan in both, A & B, names. We have only A on the title of the property which will allow us to claim the costs etc against the highest income earner.
Now I have been wondering about the interest from the loan. Can A claim the whole amount of interest or does this have to be proportional between A & B as the loan is in both names?
Not a great problem for you guru's but one that is bugging me, a newbie so to speak.
Following on from another thread, even though I'm from Canberra, I am just a storeman ), we exist down here too you know !
Thanks guys
gad
</PRE>
<PRE>Hi Guys
Have been following this fantastic forum for about 3 months now & would like to thank all the contributors.
I would like to ask for opinions, not advice, on a little thing that's bothering me.
I (A) earn 75% & my wife (B) earns 25% of our income. We are in the process of buying our very first IP, a 2 brm unit in Canberra. Following logic from the books I have read etc we took out the loan in both, A & B, names. We have only A on the title of the property which will allow us to claim the costs etc against the highest income earner.
Now I have been wondering about the interest from the loan. Can A claim the whole amount of interest or does this have to be proportional between A & B as the loan is in both names?
Not a great problem for you guru's but one that is bugging me, a newbie so to speak.
Following on from another thread, even though I'm from Canberra, I am just a storeman ), we exist down here too you know !
Thanks guys
gad
</PRE>
Last edited by a moderator: