Tax Minimisation Strategy #4 – Interest only loans – & pay off personal loans
Tax Minimisation Strategy #4 – Interest only loans – & pay off personal loans
By making property and investment loans interest only, and making sure you borrow for any further renovations and additions (so don’t use savings) this will maximise the loan related to the property or asset, and hence maximise interest deductions. By making this loan 100% for the property and asset, and interest only, you can then concentrate on paying additional available funds off your home loan or personal debts (which are not a tax deduction).
By Pat Hoey