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  1. tobe

    Is this legal?

    Do a search on here for debt recycling, it may have the same effect you are looking for, over a longer timeframe.
  2. tobe

    Is this legal?

    change your loan to a term loan interest only with an offset account rather than a LOC, and you have no problems, as offsets are deemed as savings accounts, rather than loan accounts for the ATO purposes. There are loads of threads on this issue.
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