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  1. Terry_w

    Refinancing for 1st IP - Offset account and use of funds question

    Generally not. The above posts concern borrowed money being parked in an offset account. In this case it is essential that no non borrowed money is mixed with the borrowed money. But an offset is just a savings account so placing money in it generally doesn't affect deductibility of...
  2. Terry_w

    Refinancing for 1st IP - Offset account and use of funds question

    An offset account is just a savings account. There are no tax issues if you deposit income with other cash.
  3. Terry_w

    Refinancing for 1st IP - Offset account and use of funds question

    Yes, if you have paid the money back into the loan any subsequent withdrawals will be new loans. If you pay directly from the loan account there should be no issues as no mixing will occur.
  4. Terry_w

    Refinancing for 1st IP - Offset account and use of funds question

    Domjan case - They do mind!
  5. Terry_w

    Refinancing for 1st IP - Offset account and use of funds question

    I would advise against this. You will end up with tax problems. Use a LOC instead.
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