Can I claim interest payments against CGT?

Brendan Burgess

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Say I buy a site today and sell it after 5 years. There will be no rental income. Can I claim the interest paid on the mortgage used to buy the site when calculating the gain?

Brendan
 
Brendan said:
Say I buy a site today and sell it after 5 years. There will be no rental income. Can I claim the interest paid on the mortgage used to buy the site when calculating the gain?

Brendan
Click to expand...

No such luck. Interest payable is only allowable against rental income.
 
Thanks Clarkey

I had someone insist that you could do so and I was pretty sure that they were wrong.

Brendan
 
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