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Thanks Terryw! Other than the cases above, does the ATO have a publications etc that explains this? As I'm sure i'm not the only stupid person that didn't know this?? The reno is going to cost more than the borrowed 30k (owner builders... suprise, suprise!) Would this go anyway to prove...

Hi.. I apologise in advance for my ignorance..... But in relation to the above conversation, I'm after your extensive knowledge for my quite simple situation. I have recently borrowed 30k to completely renovate an IP, the loan was funded into my everyday transaction account, I then...