Can I claim interest on loan on investment property using other offset account fund?

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(Newbie)Newbie

14 Apr 2024

We have investment property A: Loan Amount (Split Loan) is:

1) $395,000 (Offset Account Balance is: $250,000)

2) $565,000 (Offset Account Balance is: $565,000)

Recently We have purchased Investment property B using the total funds: $815,000 from our offset accounts of investment property A.

My questions are:

1) Can I claim interest on Loans for these amount occur in Property A for Property B?

2) If yes, how do I keep the interest on loan separate from these two investment properties? Which documents do I need to show in my tax return?

Thanks.

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(Taxicorn)Taxicorn

17 Apr 2024

I don't really follow what you have done.

Showing a timeline of events, loans and property purchase, would show the flow of money from start to finish - and allow a better answer.

(Taxicorn)Taxicorn

15 Apr 2024

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