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Sir, thanks for this! Appreciate you quoting the exact income tax acts, and I didn't know that a surplus in the offset account be used to compensate for repayments if one is behind. Very much appreciated.

Great info - thanks Durka. I didn't realise it only applies for up to 6 years. Settlement is in 3 weeks so I'm not sure if there will be enough time to go through with this ; plus Jess mentioned it could be construed as tax avoidance - which I wasn't aware of!

Thanks for this Jess - you're right, putting the money into an offset account would give much more flexibility if I'm ready to buy a 2nd IP (or need to fork out for an emergency, wedding, holiday, etc.) within the next 5 years.

Hi All, I would appreciate your advice on the below loan structure for a 300K loan, for a $530K IP. I don't have any other mortgages. LOAN STRUCTURE 4.55% "choice package" with NAB (has redraw & offset features) Will choose variable interest rate (but might fix half at 4.55% for 5 years...