Claiming Interest Expenses for Rental Properties
Did you know that if you take out a loan to purchase a rental property, you can claim
the interest charged on that loan, or a portion of the interest, as a deduction?
Stay up-to-date with the latest industry trends, financial insights, and accounting news.
Stay up-to-date with the latest industry trends, financial insights, and accounting news. Our news and blog section is your go-to resource for valuable information, expert advice, and meticulously researched, thought-provoking articles. Whether you’re a business owner, individual, or simply interested in the world of finance, our regularly updated content covers a wide range of topics to keep you informed and inspired.
Did you know that if you take out a loan to purchase a rental property, you can claim
the interest charged on that loan, or a portion of the interest, as a deduction?
The personal services income (PSI) rules apply to income that is earned mainly from the personal efforts or skills of a person.
If you are an employee working from home or a business owner who runs your business from home, you can request for a deduction.
Due to the prevailing situation of COVID-19, the government has decided to temporarily extend the access of instant write-off up to $150,000 for small businesses till 31st of December 2020.
Feel free to reach out to us for any tax, accounting or business management and advisory needs. You can contact us at [email protected] or at 1300 260 360.
Have the latest accounting, tax and financial news, tips and advice delivered to your inbox. Don’t worry. We won’t spam you.
Resources
Company
Partner With.
