C corktim Registered User Messages 172 8 Jul 2021 #1 Hi all, if I take out a home improvement loan in order to fund repairs to a rental property can I write the loan and interest for tax purposes?
Hi all, if I take out a home improvement loan in order to fund repairs to a rental property can I write the loan and interest for tax purposes?
C cremeegg Registered User Messages 4,156 4 Aug 2021 #2 I don’t see why not, it a fairly standard business expense
G Gordon Gekko Registered User Messages 7,379 4 Aug 2021 #3 Just the interest against rental income. Depending on the nature of the expenditure, the capital outlay might feed into a future capital gains tax computation as ‘enhancement’.
Just the interest against rental income. Depending on the nature of the expenditure, the capital outlay might feed into a future capital gains tax computation as ‘enhancement’.