Hi guys, I have a question re interest and if it is to be capitalised or if it can be deducted from your annual income (normal job).
Please correct me if I'm wrong...
For a short term trade where the intent was capital gains I capitalise the interest i.e it becomes a capital loss.
For longer term holds I deduct the interest against my annual income (which also includes dividends).
Some questions...
If say for eg you hold Woodside for 10 months and it pays a divi in Feb and you continue to hold the stock for a another 3 months can you deduct the full 10 months of interest paid ?
If say you hold Newcrest for 6 months but miss the divi can you deduct the interest ?
If say you hold a speculative stock with the intention that one day it will pay divis (but never does and you sell for a loss). Can you deduct the interest charged or do you have to capitalise it ?
