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Borrowing Expenses tax deductible

Discussion in 'Accounting & Tax' started by Paul Luck, 3rd Jul, 2015.

  1. Paul Luck

    Paul Luck Member

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    So borrowing expenses for a loan on an IP are tax deductible.

    1. Does this also apply to a loan refinancing not just the initial loan? (The purpose of the refinancing is to extract further equity to be used to purchase PPOR.
    2. Do "borrowing expenses" included all the government fees such as loan registration, loan discharge, title transfer fees etc?
    3. I understand you can't claim the conveyancing fees?
     
  2. D.T.

    D.T. Adelaide Property Manager Business Member

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  3. MikeLivingTheDream

    MikeLivingTheDream BCOM MCOM MTAX CPA CTA Registered Tax Agent Business Member

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  4. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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