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Post Info TOPIC: Interest only mortgage - can the whole amount be a deductable expense?


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Interest only mortgage - can the whole amount be a deductable expense?
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Hello I have a client who has an interest only mortgage on a property that he rents, as the whole mortgage payment is interest only is this whole amount a deductible expenses? thanks



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Rachel



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Yes, the interest is tax deductible the capital is not. If it's only interest being paid then the whole amount is tax deductible.

Kris

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+1 to that! ;)

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Gary

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