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Question about breaking a fixed rate loan

Discussion in 'Property Finance' started by Brisbane04, 2nd Nov, 2015.

  1. Brisbane04

    Brisbane04 Member

    Joined:
    18th Jun, 2015
    Posts:
    18
    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
     
  2. Redom

    Redom Mortgage Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    859
    Location:
    Sydney (West) and Canberra
    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.