I'm looking to include rent earned as income, but maximise my deductions. I am unsure whether the borrowing costs of setting up my original mortgage are deductible over the part of the 5 years that I will rent it out for.
Hi @Robbittybob,
You can claim certain borrowing expenses as long as the original mortgage loan was for the purchase of your rental property and was available for rent.
Not if the original mortgage loan was to purchase as your place of residency. Then you decided to rent it out a later date.
If you're eligible to claim these expenses, then you can read more about the type of rental expenses you can claim over several years.
Hi @Robbittybob,
You can claim certain borrowing expenses as long as the original mortgage loan was for the purchase of your rental property and was available for rent.
Not if the original mortgage loan was to purchase as your place of residency. Then you decided to rent it out a later date.
If you're eligible to claim these expenses, then you can read more about the type of rental expenses you can claim over several years.
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