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Hi All,
I'm hoping to get some suggestion/guidance on following.
We're NZ citizens, based in Sydney, moved here last year. We've our family home in Auckland(currently rented) which has got revolving credit facility which is fully paid off so how can we withdraw that money to purchase property(IP) in Australia and make it tax deductible in NZ? RC has never been withdrawn for any purpose.
If I close the the revolving credit facility, remaining debt will be added to outstanding loan, will it make whole debt tax deductible?
Thanks in advance!
I'm hoping to get some suggestion/guidance on following.
We're NZ citizens, based in Sydney, moved here last year. We've our family home in Auckland(currently rented) which has got revolving credit facility which is fully paid off so how can we withdraw that money to purchase property(IP) in Australia and make it tax deductible in NZ? RC has never been withdrawn for any purpose.
If I close the the revolving credit facility, remaining debt will be added to outstanding loan, will it make whole debt tax deductible?
Thanks in advance!