Where a lender charges a $300 variation fee in order to increase the limit and take out a second loan, is it tax deductible immediately in that year?
Or does it need to be claimed over a 5 year period like the initial borrowing costs?
Note it was charged to the existing first loan, and not the second loan. Although the second loan is the cause..
Or does it need to be claimed over a 5 year period like the initial borrowing costs?
Note it was charged to the existing first loan, and not the second loan. Although the second loan is the cause..