From: Geoff Donges
Being in the ACT & able to claim all purchase/lease costs in the first year in my tax return, how does this work in regard to borrowing costs. Do I still have to spread the borrowing costs over 5 years?
I also presume that Mortgage Insurance is a borrowing cost. Though I can't find it mentioned on any ATO help file.
Thanks.
Being in the ACT & able to claim all purchase/lease costs in the first year in my tax return, how does this work in regard to borrowing costs. Do I still have to spread the borrowing costs over 5 years?
I also presume that Mortgage Insurance is a borrowing cost. Though I can't find it mentioned on any ATO help file.
Thanks.
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