Queries re mortage interest

Y and T

Mortage interest can deduce payable tax for 7 years now but is it for first-time house purchase owner? if i have another house (just for 1 year) and has been sold. Can I still enjoy this tax-decution beneit?

Anyone know?

ttchan

is it for first -time house purchase owner? not for the hourse which lived by onwer ma?  I also want to know....

Ha and Kui

If my memory is correct the deduction is for owner of self-use property and non-first-time home owner can also claim the deduction.

Y and T

ｉｃ．　ｔｈａｎｋｓ！

ttchan

Thanks.Ha&Kui I also think so

diedsee

Yes Ha&Kui is correct

For another house (just for 1 year) and has been sold U can enjoy this tax-decution beneit if it is within that assessment of year.

維也納

your "non-first-time" home owner means 政府的首置嗎

Hotcake

Now I have two houseswhich house can be used to claim the deduction nei?  The scheme is extended two years.  Does it mean we can deduce the tax until March 2006 not until march 2011.

diedsee

You only can deduct the one that u lived in (place of residence).
You don't need to deduct it for continuous seven years you can deduct in any seven years.

N and M

[quote:56c3498af9="Hotcake"]Now I have two houseswhich house can be used to claim the deduction nei?  The scheme is extended two years.  Does it mean we can deduce the tax until March 2006 not until march 2011.[/quote]

Useful link to IRD about Interest tax deduction claim http://www.ird.gov.hk/chi/faq/hli.htm

You can claim 7 years which has not to be consecutive and need not to be the same property. But it should be your residental one.
In your case it 'd better to claim the one that pay more interest and use it as your residental address  :em12:  because IRD can reject if it is not for own use.