Yes - unless deductible because it was from a loan to finance construction only.
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Thanks , My loan is for the both land and the house construction, if I sell the house and the land , can't I deduct the full interest paid during the construction from CGT?
If you sell the property before it is rented, then more likely you would be taxed as a developer - not CGT.
Then all interest would be deductible, but GST would be payable.
Best to go to a local tax agent experienced with property.