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This is actually a good strategy and one I have recently started recommending to clients. Instead of one big loan for the PPOR, I suggest a few smaller ones which can then be paid down first and the funds accessed via redraw later on. Saves having to reapply for a LOC. Have to be mindful...

How did the loan increase by $20k? Where is the $20k that was borrowed?

Still as clear as mud. Give us some figures. Sounds like this to me: $100,000 loan, you paid this down to $50,000 with $50k in redraw. You refinance to $100,000, cancel redraw, but have $50k in offset instead? If this is the case you have borrowed $50k to park in a savings...

I would say seek tax advice.

I would advise caution. Use a LOC to avoid doubt.

Your first question is vague. You cannot transfer money from a property. Do you mean from the loan? You want to borrow to pary the money in a savings account? = no deductible in my opinion. Q2 = no