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Claiming Loan Interest

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Sugar001 | 22 Apr 2019, 10:38 AM Agree 0
Hi Team

I have a question to the following scenario. I own two properties, both are investment properties and are currently tenanted.
Property A I own outright and property B has a mortgage owing about $390000. I am considering accessing the equity in property A, about $200000 and putting this money into the offset account of property B. Since they are both investments I believe I can still claim the interest on both loans. My question is, what are the implications if I were to move into property B in about 1 - 2 years. I wont be able to claim interest on property B but will this affect my ability to claim the interest on property A.

My second question is, I only plan on living in property B until I save more money to buy another property, this property will be my primary residence. When this happens I want to be able to reduce this loan as much as possible and increase the loans on property A and B as they are deductible debt. What do you recommend as a strategy for doing this in the most tax effective way?
  • Property88 | 23 Apr 2019, 12:06 PM Agree 0
    As your situation is quite unique, I would definitely recommend visiting an accountant who specialises in property investment. For a small investment of a few hundred dollars you could work out the best strategy to save yourself a huge amount of tax long-term.
  • | 13 Jun 2019, 05:57 PM Agree 0
    All you need is a home loan expert. This guys can help you with the best possible advise and strategies.
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