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Moving back into Investment property - tax implications

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Cindy | 19 Aug 2013, 07:06 PM Agree 0
Hi there,

Hoping someone can answer my question.

I have an Investment property and used around 70K equity in this property to buy the house I live (so my loan increased by 70K). I didn't realise the tax implication of this and found out later that I could not get a tax offset on the interest on the 70K, only the original loan amount. I'm wondering if I move back into the property for a few years and then rent it out again can I then use the interest generated on the full loan amount (including the 70K) to get a tax offset?

Thanks for your time :)
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