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-   -   Interest on loan (https://www.englishforum.ch/finance-banking-taxation/97611-interest-loan.html)

jzman 24.10.2010 16:35

Interest on loan
 
Thinking about borrowing from falimy overseas to pay part of the 20% mortgage down payment, but is the interest on personal loan also tax deductible?

Appeciate any help on this topic! Thanks in Advance.

fatmanfilms 31.10.2010 14:56

Re: Interest on loan
 
Quote:

Originally Posted by jzman (Post 989212)
Thinking about borrowing from falimy overseas to pay part of the 20% mortgage down payment, but is the interest on personal loan also tax deductible?

Appeciate any help on this topic! Thanks in Advance.

Not only is the interest deductible but should be shown as a liability for wealth tax purposes. Have the loan agreement in writing.


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