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Leah As Y Man sets out the crux is in the "purpose test" of the actual funds not the security it is taken upon. If you could convince a lender to take security over a moped with the funds being used to purchase an IP then the interest would still be deductible.

Hi leah You might like to read the response i have written to a similar post from Chris_Qld. Depending on the numbers you maybe able to have your cake and eat it.