I have tax return qustion regarding property investment.
Six years ago I bought my first propery worth $280,000 with deposite $100,000, having 200,000 home loan.
Three year ago I bought second property worth $200,000,no seposite having $210,000 home loan.
last year I bought third property worth $650,000 for me to live.last six years I lives in my first property until last year I moved to third one.
Bank has done the evaluation of first and second property, first one worth $500,000, second one worth $260,000 now.
The first home loan unbalance amount is $1000, with surplus $190,000. the second one is $150,000 with surplus $55,000
now I have changed the first property home loan to max $500,000 and second home loan to max $260,000. moved $500,000 from first home loan to my current home and move $110,000 from second home loan to my current home.
for the tax return, how can claim tax from bank interest I paid for the first and second home loan, can I claim interest of $500,000 and $260,000? or only surplus part that is my own money?
Thank you for reading this long story, Thanks in advance. |
