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Yes, provided by the ATO, via yourself: Look at your loan statements again. With an offset against it, your loan account DOESN'T fluctuate. The balance of the offset account does. Deposits into the offset account are NOT loan repayments, and withdraws from the offset account are NOT new...

Assuming it's NOT jonmardell's scenario. You take out 300k for a PPOR loan. You have an offset against this loan. Over a year, you put in $50k from salary, savings, pokie winnings, whatever (other than proceeds from another loan). You pay interest on 250k, none of which is deductible...

Who gave you that advice? Withdrawing from a PPOR offset for investment purposes means the interest on that isn't deductible.

If you sell a property and the proceeds aren't enough to repay the mortgage, the bank can and will come after anything else you have, no matter who it's mortgaged with. That's not the real risk of cross col. The real risk is when you have two properties of 400k each, crosscolled to 80%...