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You cant go back. Its done now. talk to your accountant, and a broker. Set up the best structure you can moving forward. Its not that big a set back! You have paid off some of your house!! Its a much better problem than many others I can think of. The main options are selling and buying 2...

talk to your accountnant, but something tells me the ATO might be a wake up to that sort of thing. Its done now. get educated on the best structure moving forward. You might consider recycling the non deductable debt, and get where you want to be in a couple of years. the other alternative...

The ATO sees redraw as in effect a new loan. Deductability is based on the purpose of the loan. the pupose of the redraaw/new loan is to purchase something that isnt income producing, therefore not deductable.