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You guys are brilliant - thanks so much for all the info. Now to get that pesky deposit up... Cheers again all.

Hi Richard - that's actually what I meant, just didn't word it properly :p Stupid English. So what's the difference then, if any, between an offset account and a redraw account?

In a savings account, you'd get taxed on the interest - but in an offset account, you're reducing the amount of interest that you have to pay on the original I/O balance, and you claim that interest as a deduction anyway. That sound about right? I'm learning a heap off these forums - good...

Ohhhhhhhhhhhhhhhhh. I think you're right - I was reading the top "sticky post" in here by Simon and the story he tells suggests the same thing. In that case, I totally understand now and will almost definitely be doing the I/O + offset etc :) Hooray for learning!

Wow, thanks for the quick answers guys - didn't know there'd be people on here so late! So it basically makes sense that you roll the IO period over - my assumption here is that of course it would "eventually" be paid off, but that rental income (in a perfect CF+ world) would cover the payments...

Hey all - I've been interested in getting into property for years now, but have been travelling the world with the wife for the last few years so it's been at the back of my mind. Now I'm back in Brisbane and settling down with a munchkin on the way, and getting back into it - although probably...