LOC Query

[regrow]

Hi All

Trying to get my head around the LOC.

If my LOC pays all costs associated with the IP, can the rent be paid into an offset account against my PPOR held with another bank?

Would I still get the normal deductions against my income, for all costs associated with the IP if the LOC pays for all the IP's outgoings?

Regards

Regrow

 

[Rolf Latham]

Yes

A common structure.

But please seek specific advice from a tax professional b4 you implement this type of thing.

ta
rolf

 

[regrow]

Thanks Rolf will double check with accountant.

Regards

Regrow