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Will the loan statements be enough proof for the ATO in determining how much of the mortgage is deductible? When this property becomes an IP, I should be able to calculate exactly how much I have redrawed for personal reasons and therefore determine what percentage of the mortgage is deductible...

Unfortunately you're right. It's not an offset account, only redraw, and I have made personal withdrawls during the life of the loan. Any advice on the best way forward? Would refinancing solve any of these problems? Thanks for all of your help guys - it is greatly appreciated.

Peter, If I'm unable to seperate my loan into deductible and non-deductible components with changing lenders, can't I just apportion the interest charged as detailed in TR 2002/2? Why would the ATO rule that the entire loan in non-deductible? Would the apportionment be a simple...

I'm starting a new job in soon, so I won't be buying anything until my 3 month probation period is over. Can I redraw the $80k from the unit's mortgage now, place it in a savings account until around November and get around it that way? Or would the redraw amount still be non-deductible?

Thanks Peter. I have just emailed One Direct to see if they can split the unit's mortgage into two parts. They are no longer offering new loans, so I'm not sure if they will. Excuse my ignorance, but once I have redrawn the $80k from this mortgage and the balance increases to $285k, what...

Hi, My partner and I are looking at buying a house to live in soon and need some advice on mortgage structuring. We are currently living in a 2 bedroom unit that I bought in 2008 for $303k. It was valued at $345k yesterday. There is $205k remaining on the mortgage, and $80k available for...