From: Adam Randall
Just wondering if a bank would value the house at its completed value (after renovation)I amonly half (maybe a 1/4) way through the renovation, its just I hate using credit cards, I lose track of finances with 7 bills coming in each month instead of 1, however the house I am renovating looks like a bomb has hit it (rather hard), so it would be a waste of time getting it valued as is.
Also I read in the latest API Geoff Doidge recommended putting a sign outside the house so that it is available for rent so the interest on the loan is still tax deductable. I have done this, and taken photos of it, but am a bit hesitant to claim the interest, as it may not stand up to the ATO's interpretation of available for rent, any opinions would be helpful.
Regards Adam
Just wondering if a bank would value the house at its completed value (after renovation)I amonly half (maybe a 1/4) way through the renovation, its just I hate using credit cards, I lose track of finances with 7 bills coming in each month instead of 1, however the house I am renovating looks like a bomb has hit it (rather hard), so it would be a waste of time getting it valued as is.
Also I read in the latest API Geoff Doidge recommended putting a sign outside the house so that it is available for rent so the interest on the loan is still tax deductable. I have done this, and taken photos of it, but am a bit hesitant to claim the interest, as it may not stand up to the ATO's interpretation of available for rent, any opinions would be helpful.
Regards Adam
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