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This TD leads to more queries: Does a tax refund, once received, need to be deposited into the LOC (and not the PPOR mortgage as most do) to the proportion that the IP generated the refund? Could be very difficult to calculate. And if you've got a margin loan do the dividends generated...

Guess what? The ATO has got sick of taxpayers directing rent from their IPs to their PPOR mortgage and effectively turning non-deductible debt into deductible debt, regardless if the dominant purpose is to pay off the PPOR mortgage as soon as possible and the tax benefits are secondary...