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Interest on bond payments

Posted 28 October 2015 under Tax Questions

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Matt says:
27 October 2015 at 12:43

Can I claim interest paid on a bond as an expense for an investment property where I receive rent. Will that differ for the interest paid on a bond for an empty stand (also investment) where no rent is received yet?

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TaxTimTaxTim says:
28 October 2015 at 6:43

You can claim interest against the rental income yes. With the property that is empty, are you actively seeking a tenant for the land?


Matt says:
28 October 2015 at 8:48

It is an empty stand in an estate. We have a buyer that wants to build, he will start paying occupational rent as soon as he starts, but that might take 12 months.


TaxTimTaxTim says:
28 October 2015 at 16:52

Unfortunately then you will not be able to claim the interest as you are not actively seeking a tenant, but looking to sell. When the occupational rent comes in then you may be able to claim the interest then against that rent.


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