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tax back on loans payments

larchielads · 2010-02-25 16:28:30

can i claim tax back on my loan payments to the credit union? do the loans have to be for home improvement loans or can they be personal loans i.e holidays car loans etc. Any on know anythin about this? if so how do i go about it? Thanks.

25-02-2010 4:28pm

#1

larchielads

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Posts: 1656

can i claim tax back on my loan payments to the credit union? do the loans have to be for home improvement loans or can they be personal loans i.e holidays car loans etc. Any on know anythin about this? if so how do i go about it?

Thanks.

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Comments

#2 25-02-2010 5:54pm

DoMyBooks

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Interest on a loan to purchase, improve, or repair your main residence is relevant to income tax.

Cars and holidays im afraid are not covered.

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#3 25-02-2010 10:02pm

larchielads

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no problem thanks

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