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 Mortgage, Loans, Investments & Marriage
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By: ecchi.gaijin
20/04/2008
9:07 pm Yahoo! Profile:
ecchi.gaijin Did this message offend you?
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| I think there is a case regarding a similar situation for a rental property that the total amount of interest relating to the investment is deductible even if the loan is in both names but the investment is only in one. But in future get advice BEFORE you structure your investments and loans, as from your brief description you may have made some poor structuring choices. |
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By: st_kilda_boy_1@y7mail.com
18/04/2008
9:42 am Yahoo! Profile:
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| My advice is to not rely on information from a message board. Go and get a decent tax accountant who will be able to provide proper professional help. Approx half the fees are tax deductible and he could probably find other savings for you. |
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By: guillermo_confalonieri
15/04/2008
7:22 pm Yahoo! Profile:
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Hi there,
I have a mortgage with several loans.
One of those loans is for investment only.
That loan, as the whole mortgage, is shared with my wife.
But the money from that loan is invested in funds owned by my wife only.
The interest paid for that money should be deducted from the income generated by the investment.
But the investment is in my wife name ( lower tax rate ) and the loan is shared between both. Is this a restriction to deduct the interests?
I will appreciate your comments.
G |
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