Don't put your tax deductible interest at risk: 10 rules to follow

Interest expenses are often an investors largest tax deduction. You must realise that the onus of proof is on the taxpayer (you), not the ATO. That is, you must be able to prove to the ATO that your deductions are legitimate. If you are not able to do that unequivocally, you risk the tax deduction being denied in full (and you will have to pay interest and penalties). Therefore, it is wise to understand some basic tax rules so that you do not inadvertently put any of your tax deductions as ri...