11. Mortgage with redraw facility.
If the mortgage to purchase the property has a redraw facility, think carefully before re-drawing to fund something private such as buying a car or a holiday. The interest expense must be apportioned between the "deductible" and the "private" portion of the total borrowings, and the calculations can be complicated.
12. Selling the property.
Make sure you declare in your tax return any capital gain when you sell the property. If
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