Can someone please run their eye over this for me?
2 units on one title, so one loan.
1 unit is rented, one is PPOR.
Now, just say we split the loan in two, one for each unit, and had the offset account fully offsetting the PPOR portion of the loan.
My thinking is that the remaining interest will still only be half deductible despite the PPOR half being fully offset, b/c from a tax perspective the loan is for the whole property and only half is rented.
Is this correct?
Thanks for your help
2 units on one title, so one loan.
1 unit is rented, one is PPOR.
Now, just say we split the loan in two, one for each unit, and had the offset account fully offsetting the PPOR portion of the loan.
My thinking is that the remaining interest will still only be half deductible despite the PPOR half being fully offset, b/c from a tax perspective the loan is for the whole property and only half is rented.
Is this correct?
Thanks for your help