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barrowing money against my house

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Newbie

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I own my  own house unencumbered. Can I barrow money from my house and either positive gear it or negative gear it? OR

Do i have to purchase a new propertyto then either negative gear it or positive gear it?

 

THanks

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Taxicorn

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Well, it's up to the banks to decide if you can or can not borrow money against your house.

 

But you can only claim deductions against money borrowed if it is for investment purposes either an investment property or shares etc.

 

1 REPLY 1
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Best answer

Taxicorn

Replies 0

Well, it's up to the banks to decide if you can or can not borrow money against your house.

 

But you can only claim deductions against money borrowed if it is for investment purposes either an investment property or shares etc.