tax deductibility of loan establishment costs if no drawdown?

[Lawry]

If I incur costs (fees, revals etc) in setting up a new line of credit with the intention of using it for investment purposes, but havent drawn down any funds before the end of the same tax year, are the costs deductible, or can I carry them forward, or...? Thanks

 

[Terryw]

That's a tricky one. I would say probably not as there is no investment income to offset it against. ie you haven't actually invested. (i am not an accountant tho)