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Thanks to all that have replied. Much appreciated.

Thanks again Gool. I will convey that to the family members.

Here is a statement from one family member who probably knows more than me. Not sure what to make of it. "Pointless to pay off principal because it's an investment. Paying off principal = less interest paid = less claimed back on taxes. Also, more CGT when we go to sell since the loan...

Thanks Gools. Yes I do have a PPOR mortgage. If we were to use some of the savings for other purposes I would be more inclined to leave about $3000 in the account to cover us for a month of loss rent (tenant pays $350/wk) + unexpected costs. How we then use the other $5000 is food for...

Thanks Jonril. I did think of the offset account too but couldn't be bothered with the family politics which goes to getting anything done/approved. Cheers for the reply. Andy

Hi All, Need some investing advice on what to do with the extra funds we have saved. This IP is part of a family investment and due to monthly contributions from everyone we have been able to save $8000 now. Given the low interest rate at the moment, the rental basically covers the...