Claiming interest charged on the loan

I have a quick simple question which i'll put forward with the example below;

Say you have a property that you draw down $100k from the equity. You use that money to buy an investment property off the plan, thats to be completed in say 18 months time.
Come tax time, can you claim the interest charged on that $100K from when you first paid/signed contract or is it deductible only once the IP is finished and producing income?

Cheers

 

At the moment if you borrow to buy a property intended to rent out the interest would be deductible from date incurred.

But depends on how structured. Read my tax tips

 

Thanks Terry. I did split the loan into an investment loan before I used the money if that's what your suggesting.

 

That's good, but any detours of the borrowed funds along the way should be avoided too.

 

Note - The deductibility of interest this way is proposed to end after the recent budget. Only costs after the property is completed and available for rent will be deductible. Proposed start July 2019.