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The type of loan (full doc or lo doc) has no bearing on tax deductibility. The only difference in the example you've given would be that with a lo doc loan you need at least 20% plus costs whilst a full doc loan only requires about 10% plus costs. The cash you need to put into the deal (if you...

To qualify for a lo doc loan you need to have had your ABN for at least 2 years. This is the first thing that will be checked. They'll then look at evidence of your income. This might be BAS statements for the last 12 months, an accountants letter or trading account statements for the last 12...