From: Duncan M
My accountant informs me that the ATO no longer requires a property to be refinanced when an Owner Occupied Property becomes an Investment Property in order for the interest to be deemed deductible.. they apparently wised up to the fact that it was a contrived activity and that the banks were the only winners, anyone got a URL or an ATO reference as I'd like to see it..
Dunc
My accountant informs me that the ATO no longer requires a property to be refinanced when an Owner Occupied Property becomes an Investment Property in order for the interest to be deemed deductible.. they apparently wised up to the fact that it was a contrived activity and that the banks were the only winners, anyone got a URL or an ATO reference as I'd like to see it..
Dunc
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