Hi,
If I take a loan from Malaysia to purchase a property in Western Australia, is the loan interest tax deductible from rental income obtained from the property?
If the answer is yes, I assume the interest will need to be converted to AUD - how is that conversion managed? Based on the average monthly/yearly conversion?
Please note I am not an Australian citizen or resident.
Hi @goommen
Yes. You can claim the interest but, just make sure you convert it to AUD.
Bear in mind, we may ask you to provide documents to prove how you came to this figure.
Here's some more info on claiming interest deductions.
Hi @goommen
Yes. You can claim the interest but, just make sure you convert it to AUD.
Bear in mind, we may ask you to provide documents to prove how you came to this figure.
Here's some more info on claiming interest deductions.
22 Apr 2024 · 6 min read time
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