Hi,
I bought an investment property in 2011 with a bank loan.
The last rent was June 2017
Then it was knocked down and rebuilt as a duplex.
The first rent was in September 2019.
old and new properties have always been used as an investment. never owner-occupied.
I was checking my previous tax returns and I found out
2016-2017: Accountant has claimed the loan interest on the property.
2017-2018: the property is not mentioned on the tax return. so the loan interest was not claimed.
2018-2019: The property is reported on the tax return but with zero income and zero expenses. so the loan interest was not claimed.
I haven't done my 2019-2020 nor 2020-2021 tax return yet.
Shouldn't the loan interest be included in the tax return for both these years? and if so, what would be the best way to claim it?
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