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You should talk to your accountant on that one, as there are all sorts of rulings when PPoR becomes IP. For example if you raise money from an Investment property that was PPoR for a new PPoR, I think you will find its not tax deductable, because the money raised is NOT for income producing...

Split ASAP. There was a land mark case a couple of years ago in the supreme court homeowner vs ATO. A women had an investment loan and had a few transactions on it at the supermarket with a linked card. The ATO decided to inform her the loan was no longer an investment loan. She of course took...