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Thanks for all the advice. Will pass it along to my accountant friend. She seems to know her stuff, she actually gets excited about tax... has a mug that says "I had the time of my life at tax camp" ... :rolleyes: Will pass along the points you guys shared and see what she says. Thanks...

I've probably created a mess here... not sure. 4 properties in total. I refinanced one IP so went from borrowing $336 000 to $432 000 I used that $96 000 to add 4 bedrooms to my PPOR which I rent out for $660 pw. Can I deduct the interest paid on that $96 000 against one of my...