Main home mortgage interest deducible against commercial investment income?

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    Main home mortgage interest deducible against commercial investment income?

    Hi all,
    If I own my main residence outright and obtain a mortgage on it to finance a commercial investment property is the mortgage interest an allowable cost against the commercial rental income?

    Thanks

    Jay

    #2
    If the draw down of the mortgage loan is on the same date as the purchase date of the commercial property, the mortgage interest should be allowed as expenses against rental income.. But you should check with your accountant before you proceed.

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