Hi all, Let's say I purchase a property with one of my parents - and we own 50% each. Using easy figures, let's say we have a $100,000 loan and it costs 10% - thus for the financial year we pay $10,000 in interest. Now over that year we've deposited $20,000 combined into an offset account (from which the interest payments are debited). Can my parent claim all the interest payments (and I claim none)? Do the tax deductions have to be equal to the ownership of the property? This is the deal I'll probably doing with my parents. They are going to provide a big chunk of the deposit, and make repayments as well - however they will claim all the tax deductions (if possible).