Question about breaking a fixed rate loan

Discussion in 'Loans & Mortgage Brokers' started by Brisbane04, 2nd Nov, 2015.

Join Australia's most dynamic and respected property investment community
  1. Brisbane04

    Brisbane04 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    92
    Location:
    Victoria
    Hi,
    I'm considering breaking my fixed rate investment loan with my current lender to move to another bank. As the loan is an investment loan am I able to claim the breaking costs at tax time as an expense? Thanks Martin
     
    Brisbane04, 2nd Nov, 2015
    #1
  2. Redom

    Redom Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    4,650
    Location:
    Sydney (Australia Wide)
    Pretty sure you are, my accountant claimed it for one of my loans in the past. But i'll leave the formal response to the accountants.
     
    Redom, 2nd Nov, 2015
    #2