Tax Deductability of Interest on Investment Property

Discussion in 'Accounting & Tax' started by Lam Thieu, 14th Sep, 2008.

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  1. Lam Thieu

    Lam Thieu Well-Known Member

    Joined:
    24th Jan, 2017
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    Location:
    Melbourne, Australia
    Hello,

    Just need some clarification on a quick interest deductibility query.

    If I buy a property for investment purposes, but don't couldn't find a tenant until the 2nd month after settlement....will the first month's interest be tax deductible in full because the property was available for rent?...event though i didn't get any rent?

    Thanks.
     
    Lam Thieu, 14th Sep, 2008
    #1
  2. Simon Hampel

    Simon Hampel Founder Staff Member

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    Location:
    Sydney
    Yes, the property just has to be available for rent and you are actively seeking a tenant - then all expenses should be deductible.
     
    Simon Hampel, 14th Sep, 2008
    #2
  3. Lam Thieu

    Lam Thieu Well-Known Member

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    24th Jan, 2017
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    Location:
    Melbourne, Australia
    Thanks Sim
     
    Lam Thieu, 15th Sep, 2008
    #3