Borrowing money with trust

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(Newbie)Newbie

3 Sept 2024

Hi team, just want to figure out whether I should claim interest expense in trust return or my individual return.

I am borrowing money with my family trust for purchasing shares. I am the sole trustee of the trust, so the borrower on the loan agreement is 'my name ATF my family trust'. The family trust is holding the shares and I am paying down the loan. With the interest on the loan, do I claim it as deduction in my tax return or trust return? Cheers

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