If a loan is under 2 names (husband and wife) how is deductibility for tax purposes treated? Is it apportioned 50:50?
Next lets say they refinance. Can they refinance to a new bank and have the loan only under one name (say the wifes name only)? or do they need to keep it as a joint loan?
Would the wife be able to claim full deductibility of the whole loan if refinanced solely on her name?
Is this the best way of refinancing a joint loan?
Next lets say they refinance. Can they refinance to a new bank and have the loan only under one name (say the wifes name only)? or do they need to keep it as a joint loan?
Would the wife be able to claim full deductibility of the whole loan if refinanced solely on her name?
Is this the best way of refinancing a joint loan?