I have an investment loan of $450K that I'd like to refinance to $650K. I plan to use the extra $200K to reduce my owner-occupied home loan.
- Can I claim tax deductions on the interest for the full $650K investment loan amount, or only the original $450K?
- Is this refinancing strategy worthwhile from a tax perspective?
I'm concerned about the potential tax implications of this strategy and whether it's a financially sound decision.
Any advice or insights would be greatly appreciated.
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154 views
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