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Hi all,
We recently got some lending from a second tier lender. They charged a 1% fee for the privilege (as if a 9% interest rate wasn't enough!). This ends up being non-trivial amount of money. My questions are: 1) is this tax deductible? (100% of the lending is for a new build investment property) 2) if yes, can we claim it all in the current tax year, even if we rolled it into the principal amount of the loan? Thanks
We recently got some lending from a second tier lender. They charged a 1% fee for the privilege (as if a 9% interest rate wasn't enough!). This ends up being non-trivial amount of money. My questions are: 1) is this tax deductible? (100% of the lending is for a new build investment property) 2) if yes, can we claim it all in the current tax year, even if we rolled it into the principal amount of the loan? Thanks
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