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  1. wobbycarly

    Sell a unit to buy a house or borrow full amount for a house and rent out the unit

    Yes you can withdraw the equity. The downsides are that you pay tax on the rental earnings, but still pay full whack for your PPOR borrowings, without any deductions, so it's a double whammy.
  2. wobbycarly

    Sell a unit to buy a house or borrow full amount for a house and rent out the unit

    If you redraw for personal borrowing, it won't be tax-deductible. See above Yep, sucks doesn't it? There may be a clever way of structuring such a purchase, but it's beyond me, sorry. You might be better off selling the unit, then re-borrowing to buy something else, once you have your PPOR.
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