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Discussion in 'Loans & Mortgage Brokers' started by Hyong Cho, 5th May, 2017.

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  1. Hyong Cho

    Hyong Cho New Member

    Joined:
    20th Aug, 2015
    Posts:
    3
    Location:
    Sydney
    Hi,

    One of my friend has an equity loan to buy a new IP. He has moved the money from the equity loan
    to the linked offset account so that he can draw the money from the offset account to
    purchase a new IP.

    Is the interest on the equity account (loan) tax deductible? I heard moving money from a loan
    account to offset account is a bad idea.


    Regards

    Hyong Cho
     
    Hyong Cho, 5th May, 2017
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
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    Location:
    Australia wide
    Terry_w, 5th May, 2017
    #2
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