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I think i have miswritten- I have a $30k home loan. This portion is deductible. I borrowed $50k as a top up on this loan and the loan purposes was renos to my inv property. The $50k was kept in the offset account (separate account). I never used the funds. I now have a new plan/purpose of the...

I have actually done this. What I am doing is repaying the $50k into the home loan, re borrowing the funds as a new loan and which it will be deductible. Having said that when I set up the new loan, I will put the $50k into an offset account directly attached to the new loan. When the property I...