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Terry the argument is that the deductibility is determined by the purpose test. If the money is used for an investment in one parties name, the to some degree this defines the purpose, but as I mentioned, it becomes somewhat hazy when there's different names on the loan. In part it can be...

Since the LOC on property 1 is held in joint names, but the funds will be used for a property in the husbands name, the my understanding is that the deductibility should be assigned to the husbands income. The ownership of the loan does muddy this a little so you should consult your accountant...

In part, the best way to go will depend on what your future goals are. If you've got a lot of equity and want to do more investing, it would be ill advised to fund 50% from your existing home equity, when you could preserve this for later. Consider using only enough of your PPOR equity to...