Hi,
I know you can borrow against your home loan & then claim a tax deduction on the interest charged on the borrowed amount that is used to trade the share market. However, can you continue to claim a tax deduction on this borrowed amount if you were to put the exact same amount (proceeds from the sale of a property) into an offset account linked to your home loan and use the original borrowed money to continue trading ?
all thoughts welcome.
I know you can borrow against your home loan & then claim a tax deduction on the interest charged on the borrowed amount that is used to trade the share market. However, can you continue to claim a tax deduction on this borrowed amount if you were to put the exact same amount (proceeds from the sale of a property) into an offset account linked to your home loan and use the original borrowed money to continue trading ?
all thoughts welcome.