Hi,
Scenario I am wanting to ask about is:
If I have a IP say I purchased for $500K with a loan of $400K, over a period of time the IP value has increased to $600K.
Now I want to refinance to pull this $100K gain out to realise this gain and buy blue chip shares (eg Comm bank share)
I hold the shares for 3 months then sell the shares making a little gain.
Question is will the interest on the $100K be tax deductible for the life of the IP loan?
Thanks.
Scenario I am wanting to ask about is:
If I have a IP say I purchased for $500K with a loan of $400K, over a period of time the IP value has increased to $600K.
Now I want to refinance to pull this $100K gain out to realise this gain and buy blue chip shares (eg Comm bank share)
I hold the shares for 3 months then sell the shares making a little gain.
Question is will the interest on the $100K be tax deductible for the life of the IP loan?
Thanks.