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ebnew(Initiate)Initiate
1 Feb 2024

I've been told by my tax agent that I can only claim 50% of the deductible interest on my debt recycled loan because my PPOR is co-owned by me and my partner, but my investments are only in my name. When I questioned this, they recommended I ask the question here before signing their return. So my questions are: Is this correct, even if I am the one who pays the mortgage? And if so, going forward if we buy shares under joint ownership (assuming this is possible) then can I claim 100% of the deductible interest, or would this just mean we can both claim 50%? (Not helpful as my partner does not work).

Thanks

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273 views
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RileyATO(Community Moderator)Community Moderator
7 Feb 2024

Hi again @ebnew,


I've answered on your other post. This question is kind of the opposite of what you asked there. But the answer is the same, it's the proportion of ownership that matters.

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Can I claim 100% of deductible interest on a debt recycled loan if the PPOR is co-owned? | ATO Community