Tax deduction fto pay investment interest versus Home Loan?

Discussion in 'Accounting & Tax' started by razzy1, 8th Jul, 2008.

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  1. razzy1

    razzy1 New Member

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    1st Jul, 2015
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    Sydney, NSW
    I have a question. Is it better to pay off my home loan of $450,000 more quickly (primary residence worth $800,000) compared to an investment loan of $190,000 where I have bought equity into a business (where someone told me that the interest is tax deductible)?

    I have about $50,000 per year extra that I can pay to either loan.
     
    razzy1, 8th Jul, 2008
    #1
  2. crc_error

    crc_error The Rule of 72

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    Location:
    Melbourne, VIC
    Always pay off the highest interest rate non-tax deductible loans first.
     
    crc_error, 8th Jul, 2008
    #2