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June 21, 2016

Prepaying Interest – Why would you?

time and money

Are you looking for tax deductions for this financial year? You may be considering prepaying interest on your investment loan. Investors often use this strategy, with the sole purpose of maximising tax deductions on investment properties. However, you may wonder if giving all that money to the bank the right thing to do… The upside: Tax strategy For the financial year (FY) in which you prepay interest, you can have a double deduction of the interest paid on your investment loan. This is because you would have been making the monthly interest repayments throughout the year. You then make another …

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