Hello Tax Enthusiasts. Thank you in advance for your assistance!
I am an Aussie expat and non-resident for Australian tax purposes. I have a fully paid investment property in Australia earning rent which I pay tax on each year at the non-resident tax rate.
I would like to mortgage my investment property (overseas USD bank loan) and invest into a fund. As a non-resident, can I deduct the loan interest from my Australian tax bill? I understand the investment would need to be "accessible income" so I expect I just need to report any income or capital gains from the relevant investment to deduct the interest?
