Question on claimability of IP refinance costs.

Hi Guys

Just recently re-financed an IP with another lender.

Come tax time do I claim things such as discharge fee's, Register General's fee ect as borrowing costs & claim them back over 5 years?
Or does one claim these costs under something else?

Thanks

 

Hi Gad

the costs to which you are referring would be borrowing costs and claimed over 5 years

NickM

 

Thanks NickM
Very much appreciated.

 

I was under the impression that loan fees were claimable over 5 years or the life
of the loan, whichever is shorter. So shouldn't discharge fees be claimable in the
year they are incurred?

andy