10 min
Episode 04 Borrowing and Negative Gearing Rental Properties with Phil
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- How To
This episode discusses how negative gearing can help reduce your assessable income, especially if you are a high income earner. Interest can only be deductible if used 100% for the investment property. Any private drawdowns or private use of the investment loan IS NOT deductible for taxation purposes, and needs to be apportioned. E.g. if you use 20% of the loan for private purposes, i.e. not for the investment property, then 20% of the total interest for the financial year WILL NOT be deductible in your tax return.
Please note this is purely educational and is not a substitution for financial advice of any type or nature.
If you would like more specific advice, please contact me: philiP@macorp.com.au and I will be happy to make an appointment with you.
This episode discusses how negative gearing can help reduce your assessable income, especially if you are a high income earner. Interest can only be deductible if used 100% for the investment property. Any private drawdowns or private use of the investment loan IS NOT deductible for taxation purposes, and needs to be apportioned. E.g. if you use 20% of the loan for private purposes, i.e. not for the investment property, then 20% of the total interest for the financial year WILL NOT be deductible in your tax return.
Please note this is purely educational and is not a substitution for financial advice of any type or nature.
If you would like more specific advice, please contact me: philiP@macorp.com.au and I will be happy to make an appointment with you.
10 min