Hi,
we are moving out of our current PPOR and into our new purchase and will be renting out our current PPOR. However we wish to change ownership of the current PPOR into both names as it is solely in my name. If the transfer happens before we move out (say by a couple weeks) and we paid for the stamp duty from a LOC will the interest be tax deductible even though it was our PPOR at the time?
I think it would be but I just want to check beforehand.
Thanks.
we are moving out of our current PPOR and into our new purchase and will be renting out our current PPOR. However we wish to change ownership of the current PPOR into both names as it is solely in my name. If the transfer happens before we move out (say by a couple weeks) and we paid for the stamp duty from a LOC will the interest be tax deductible even though it was our PPOR at the time?
I think it would be but I just want to check beforehand.
Thanks.