Hi everyone, as everyone knows, who are a tax payer, it is that time again.
Nr1, I am renting out a house, and getting rental income. My income and deductions doesn't even match up.
I thought the best way would be, nr 1, take all the money in my home loan, invest that. Then i will pay interest on my home loan again.
And secondly, up my RA.
Any suggestions what can I else do ?
I know i would pay tax on the interest received from the investments (if they lie in a bank account !)
Nr1, I am renting out a house, and getting rental income. My income and deductions doesn't even match up.
I thought the best way would be, nr 1, take all the money in my home loan, invest that. Then i will pay interest on my home loan again.
And secondly, up my RA.
Any suggestions what can I else do ?
I know i would pay tax on the interest received from the investments (if they lie in a bank account !)