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If you borrow against this PPOR then you could get a tax deduction. It would be irrelevant whether this PPOR becomes and IP or not as the loan relates to the new IP which you would have purchased. Interest would relate to the new IP and be deductible against this. Maybe It?s a matter a...

They are both correct because they are saying different things. Interest is generally deductible if the borrowed money is used for investment. So borrowing against the main resident would be deductible if the money is used to purchase an investment property. so the broker is correct But...