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gmt

7,918 Posts.

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18/07/18

19:19

Post #: 34431054
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Originally posted by Panda7 ↑

Hi guys, I have a question re interest and if it is to be capitalised or if it can be deducted from your annual income (normal job).

Please correct me if I'm wrong...

For a short term trade where the intent was capital gains I capitalise the interest i.e it becomes a capital loss.

For longer term holds I deduct the interest against my annual income (which also includes dividends).

Some questions...

If say for eg you hold Woodside for 10 months and it pays a divi in Feb and you continue to hold the stock for a another 3 months can you deduct the full 10 months of interest paid ?

If say you hold Newcrest for 6 months but miss the divi can you deduct the interest ?

If say you hold a speculative stock with the intention that one day it will pay divis (but never does and you sell for a loss). Can you deduct the interest charged or do you have to capitalise it ?

Thanks
Panda

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I suggest you see your accountant, they should across the latest rules / laws.
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