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Will your offset account be offsetting personal, non-deductible debt? Even if not, then surely reducing your interest is still better than getting a tax deduction, isn't it? (Pay $1, get 30c back?) :p

OPM = "Other People's Money" whether that's a credit card or some other loan. And our "offset strategy" is pretty much as you've outlined, except we still have everything with the same lender. Another handy hint, is to try and get your loan repayments late in the month. Usually you can just...

Daniel, From someone in a similar position, I fully commend this path of action. The only question you seem to have is around using a credit card. Assuming you have the financial discipline to "manage" a credit card, get one with the best rewards scheme. (Although Amex can have a really...