• The place to find the right expertise and make better decisions
  • Find the right expertise
Tim M.
Tim M.
Neutral Bay, NSW
1 Likes
0 Followers

I’m about to buy an investment property and will have to pay mortgage insurance to get the loan. Is the entire amount tax deductible and when can I claim it?

6 years ago

Responses

Hi Tim,
You will need to get some tax advice from an Accountant as there will be other things to consider with your tax deduction and you would want to make sure you're making the most of every available item.

I have had clients in the past claim (generally) the full amount of the Lenders Mortgage Insurance over a four year period (25% per year), although I'm not sure if that is still accurate. Find an experienced accountant who is also up to date with all the depreciation changes as well.

Comments

Thanks for taking the time Scott

Your Answer

If you wish to include a video or audio response, you can do this by including links to Youtube, Vimeo or SoundCloud (https://www.youtube.com/watch?v=xxxxxxxxxx OR https://vimeo.com/xxxxxxxxx)

<% error.message %>