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Interest on loan to pay NSW Land Tax

 
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Old 01-03-2006, 10:36 PM   #1 (permalink)
MrDarcy
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Interest on loan to pay NSW Land Tax
I've heard that interest on loans to pay tax is not deductable, but how about NSW land tax? Want to draw from my property expenses LOC to pay this EVIL EVIL TAX, nice to know if ATO consider it just another expense.
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Old 02-03-2006, 02:00 PM   #2 (permalink)
MJK
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I do know the tax payment itself is deductable so I would have thought it classed as a legitimate expense that could be capitalised?

Like you I would love to hear and accountants perspective.

MJK
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