Banks sometimes offer a promotion of say $1500 as an incentive to refinance. I am trying to workout where these funds are allocated for tax purposes ie does ATO see this as income? Ie say total refinance cost: $1300, promotion fee $1500. Is the surplus $200 seen as income(same as rent) or does this $1500 not come into the tax calculation at all? Hope my question is clear and someone can answer. Thanks in advance.