OK - firstly please see your lawyer or accountant.
BUT, you cannot just borrow to the kilt on your investment loan and then claim a deduction. The funds either had to be used for the purchase or improvement of the property.
One idea is to transfer the property to a trust, (and borrow to full capacity) BUT
a) you will pay stamp duty at the investment rate b) your trust will need to have some other form of income producing asset in order to offset the deduction (i.e you can't deduct the loss from your personal taxable income)
If the property is just in your name you could also consider transferring it to your spouse and get her to take out a loan to purchase it for as much as possible.
This is not advice, just comments - please seek professional advice
This is not advice, just comments - please seek professional advice
