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I presume the remaining money in the LOC if used for investment purposes will be deductible?

Ozperp, Is my situation in the same boat as Mrsdawnrazor? Is there any way we could make that original purchase money tax deductible?

Maybe the accountants can help us. MrsDawnrazor, my accountant would say the amount you paid back to yourself would not be tax deductible.

Hi Mal, I have just logged on to ask a very similar question. We were also held up by the bank in the settlement of a block of land we were buying in the name of our family trust for investment purposes. So we paid for it from funds in an online saving account which is in the name of the trust...