Hi,
Quick question hopefully. I bought my first house last year and got a 12 month fixed intro rate (principal and interest) paid monthly. After just over 7 months of living in it I moved out and am now renting it out. From the point that it was available for rent it switches to being deductible right? Now, I'm paying 6.49% on the 22nd of each month. On 1 May it became an IP. With payments on 22 May and 22 June, how do I calculate interest?
I've prepaid council rates and water. Can I simply apportion those on a simple time basis?
Quick question hopefully. I bought my first house last year and got a 12 month fixed intro rate (principal and interest) paid monthly. After just over 7 months of living in it I moved out and am now renting it out. From the point that it was available for rent it switches to being deductible right? Now, I'm paying 6.49% on the 22nd of each month. On 1 May it became an IP. With payments on 22 May and 22 June, how do I calculate interest?
I've prepaid council rates and water. Can I simply apportion those on a simple time basis?