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The interest charges on that line of credit on the investment

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You pay tax on all your income from house 12. You can’t cheap Canada Goose claim any tax deductions for bank mortgages.The interest charges on that line of credit on the investment property is not tax deductible because the funds are canada goose outlet 80 off being used for a private purpose, cheap Canada Goose paying off the PPOR.The security on a home loan has canada goose clearance no bearing on whether or not the interest payments on that home loan is tax deductible or not, it the purpose to which the funds provided by the loan are used for which determine tax deductibility of the interest on that loanAny reason he can’t re mortgage his investment property and draw out the equity to pay off his PPOR? Don’t know if it’s possible just a thought.He can, but what the point? The interest payments on the new mortgage home loan on his investment property will still not be tax deductible because(same reasoning as the comment I posted for another poster):The interest charges on that line cheap canada goose uk of credit on the investment property is not tax deductible because the funds are being used for a private purpose, paying off the PPOR.The security on a home loan has no bearing on whether or not the interest payments on that home loan is tax deductible or not, it the purpose to which the funds provided by the loan are used for which determine tax deductibility of the interest on that loanI’d prefer the canada goose mortgage on my investment property, tax deductible then.Unfortunately Canada Goose Parka not, since it already paid off you cannot make it deductible by taking out a new mortgage as the ATO considers WHY you took out the mortgage and where that money went. Not what the mortgage is on, they canada goose uk outlet don care what the security is for it.The only way OP could put the mortgage on the the investment property and get it deducted would be to rent out the property with the mortgage still remaining and live in the other one..

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