Mortgage topped up, what about TRS ?

P

Pablo74

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218
Hi ya ,
I have my mortgage for 7yrs this month. I topped up fro 78k to 110k about a week ago. I am just wondering is the any tax relief that i can apply for seeming my mortgage has risen? I have been recieving TRS since i got the mortgage Dec 1999.
Any info would be great
regards,
Pablo74
 
As far as I know you can only claim TRS on the portion of your mortgage that relates to the actual purchase of your home. If you top up to pay for home improvements/car etc etc I don't think you can claim TRS on the top-up portion. Sorry!
 
Marg is correct. Only topups used to purchase or renovate the PPR qualify for owner occupier mortgage interest relief. Topups for other purposes do not qualify.
 
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