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Thank you all for that. I might give the ATO a call to check, but thank you for saving me!

BTW I don't have a PPOR at the moment as I'm moving in to partners house. Will get an offset on my return from my trip.

Hi Peter Thanks for the info, can you explain why it's a problem using the LOC this way? I've always tried to keep investment money separate so that it was easier to deal with at tax time. I will probable buy some shares from the funds in the LOC would this be a better use? Again I would...

Hi Colin I'll try to improve my explanation. I have a LOC account where the rental money minus expenses from both IPs will be deposited by the Property agency. Loan 1 & Loan 2 Interest payments will be direct debited from that LOC. If there are other expenses for the IPs this will also be...

Thanx Rolf can't do anything now b4 I go.

Hi all Just refinanced 2 IPs x I/O loan each with Macquarie. I asked broker for an offset account to park excess funds as I'm slightly + geared. I also asked for a LOC to collect rent and hav the mortgages to direct debit from and any expenses for IPs from here. Today I go to sign contracts &...