The payments you make on your mortgage to pay of your principle place of residence are not tax deductible.
If you have free cash and discharge your mortgage then borrow against your principle place of residence to invest those very same payments become tax deductible.
So a person could sell BRN, discharge their mortgage, borrow again and buy back BRN and the tax office will then assist by allowing a tax deduction for the mortgage payments.
There are of course capital gains tax issues and personal tax rates to consider so proper advice should be sort from your accountant.
My opinion only DYOR
FF
AKIDA BALLISTA
The payments you make on your mortgage to pay of your principle...
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Last
19.0¢ |
Change
0.010(5.56%) |
Mkt cap ! $372.2M | |||
| Open | High | Low | Value | Volume |
| 18.5¢ | 19.0¢ | 18.0¢ | $935.0K | 5.019M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 178405 | 18.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 19.0¢ | 562404 | 11 |
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| BRN (ASX) Chart |