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Not the one I was thinking of, but see TR95/25 42. Interest on a new loan will be deductible if the new loan is used to repay an existing loan which, at the time of the second borrowing, was being used in an assessable income producing activity or used in a business activity which is directed...

A refinance doesn't change deductibility of interest so if it was originally deductible it should still be. Yes this is covered in one of the TRs try TR2000/12 from memory.