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Yep, that's what my old bank did...this new one seems to be ridiculous. I'm sure that the only reason they do it, is because they know more often than not they can rip customers off this way by baffling them, there is no sense to it otherwise. I had a previous employer that did the "average...

Sorry, to hijack, stumbled across this after trying to find out more about Capitalising Interest. This is the situation: Loan is an investment and balance starts off at X, with Interest Only. End of the month, interest is calculated at RATE * days in month / 365 and added onto loan...

Excellent, that's what I thought. Thanks very much tobe, I appreciate your reply. So if the financier does provide that $2300 into my bank account, I can just put it back into the loan, and then I can continue to claim the interest as tax deductible (for the new loan = existing loan amount +...

No bites? Does anyone know someone in particular that might be willing to help?

Hi, This is an investment loan. I'm in the process of refinancing, and the financier is stating that they will increase the borrowing limit, so that they can pay out the existing finance including any expenses. So basically, what are the tax implications of capitalising these costs, and also...

Yep, and if you read Money Magazine, they often talk about them with disdain as well...even though they sometimes slip into their rankings. You'll find they don't appear often though, I reckon it's because of this type of "just try and lock in new customers" mentality. I agree, they lock you...

More of a statement of the obvious. Thanks, so theres no definitive answer on these redraw offsetso then? If they are pushing out them there must be heaps of investors using them. Ignorance is bliss, until thetaxman comes knocking...

Just wondering if anyone knows whether this RateBusters product has had a ruling or been verified by the ATO? I'm new to loans, so what's the difference between a Redraw account and an Offset Redraw? Is a Redraw account not a separate sub-account, how do you know how much you can Redraw...