I assume 4% rate includes capital repayment
However I've been advised by an accountant to mortgage the property to the maximum to avail of tax efficiencies.
I can repay my mortgage on a rental property. To me it seems like a no-brainer - I'm paying about 4% for mortgage and getting very little interest on savings. However I've been advised by an accountant to mortgage the property to the maximum to avail of tax efficiencies.
...stick my mother in law in a nursing home and get a whopping 40% back.
When I bought the house a few years ago the accountant advised at the time to maximise the mortgage amount.
No Brendan. When I bought the house a few years ago the accountant advised at the time to maximise the mortgage amount.
A few years ago? The 75% mortgage interest restriction has been in place for over 7 years now (April 2009).This would be the wrong advice now. But it could have been the right advice then. If 100% tax relief was available at the time and if you had a mortgage on your primary home.
Brendan
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