If I redraw from my current , paid off but not discharged, home loan - which is an owner occupied home loan, and use every dollar of that redraw to buy an investment property, is the interest on that redrawn amount tax deductible?
I'm hoping that the ATO looks at what the borrowed money is used for, not whether the loan was originally an owner-occupier loan. Thus, the redraw is treated as a new borrowing for tax purposes.
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43 views
2 replies