G german Registered User Messages 57 14 Nov 2011 #1 If you take a personal loan to invest in a company/property and the investment is not a good one resulting in a loss, i understand that you can offset the loss against future capital gains but can you also offset the interest on the loan?
If you take a personal loan to invest in a company/property and the investment is not a good one resulting in a loss, i understand that you can offset the loss against future capital gains but can you also offset the interest on the loan?
C ClubMan Registered User Messages 49,222 14 Nov 2011 #2 If it's an investment property then you can offset interest on any borrowings used to purchase/renovate the property against rental income: http://www.revenue.ie/en/tax/it/leaflets/it70.html#section4 Not sure about factoring interest on loans into capital losses/gains calculations which is what you are asking. Might be some info here: www.revenue.ie/en/tax/cgt/leaflets/cgt1.pdf
If it's an investment property then you can offset interest on any borrowings used to purchase/renovate the property against rental income: http://www.revenue.ie/en/tax/it/leaflets/it70.html#section4 Not sure about factoring interest on loans into capital losses/gains calculations which is what you are asking. Might be some info here: www.revenue.ie/en/tax/cgt/leaflets/cgt1.pdf