Mortgage Interest Deductibility

May 10, 2024

Good news for our property investors with the government announcing that they are phasing back the ability to deduct interest expenses from 1 April 2024 when all affected taxpayers will be able to claim 80% of their interest expenses.

For the 2024 tax year (1 April 2023 to 31 March 2024) the deduction rate is 50% for those that qualified under the old rules.

If you are unsure what your rate is or is going to be, make sure you get in touch with us at the office.