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Thanks for the response Terry. I'll definitely try and get to see my accountant this coming week and also my mortgage broker and get this situation fixed up.

The borrowings ended up in the offset account just over 2 weeks ago. There has been a couple of property related expenses just shortly after that. The non-borrowed funds were transferred to offset about 5 days ago and no transactions since then on the offset account. I have touched base with...

Hi all, I think I may have got myself into a financially dangerous situation from a tax perspective and would appreciate some suggestions on how to rectify the situation. I currently have no personal debt (PPOR or elsewhere) and have recently transferred my home equity loan from a LOC to...