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Tim M.
Tim M.
Neutral Bay, NSW
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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?

4 months 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

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