Hi all
Hoping for your views on our situation.
We are looking to purchase a PPOR in the ACT. The place we have found is presently tenanted, through to mid 2011. The agent has indicated the tenants would be prepared to leave earlier (i imagine if the price is right).
We are now thinking that we might keep the tenants there and move in when the lease expires.
My question is - in this scenario, can we treat the property initially as an investment property (ie. claim stamp duty and loan expenses) even though our intention is to move in at a later date?
And for tax purposes does it matter what type of loan we have taken out? We have organised an "owner occupier" loan, rather than an investment loan, with the bank.
Thanks indeed for your views.
Hoping for your views on our situation.
We are looking to purchase a PPOR in the ACT. The place we have found is presently tenanted, through to mid 2011. The agent has indicated the tenants would be prepared to leave earlier (i imagine if the price is right).
We are now thinking that we might keep the tenants there and move in when the lease expires.
My question is - in this scenario, can we treat the property initially as an investment property (ie. claim stamp duty and loan expenses) even though our intention is to move in at a later date?
And for tax purposes does it matter what type of loan we have taken out? We have organised an "owner occupier" loan, rather than an investment loan, with the bank.
Thanks indeed for your views.