Search results

NOOOOOOOOOOO, no redraws. The ATO sees that as reborrowing. You can & must use an offset account. The money in the offset will reduce the loan interest. But when you use it (the money in the offset account) for your PPOR it is your own personal stash of cash. OFFSET NOT REDRAW. ")

It will be fine with the ATO just don't claim any expenses, depreciation etc for the period you are living there. Yes - all fine. You got it now :)

Yes there are and if you read all the threads in here about their situation, they all get caught with a PPOR almost paid off and virtually no tax benefits once made into an IP and then maximum non-ded. debt on the new PPOR. Advice often is to sell PPOR to a trust or the other partner and pay...

I think that is the way you'll have to do it. Max borrow on the IP. Keep cash for PPOR.

No, you cannot move debt like that and still maintain max debt against the IP......because the only purpose for doing so is to get you a tax benefit - therefore disallowed by ATO