I am in the position where I have equity in my investment properties, but am in need of upgrading my PPOR. I know that if you redraw from an IP this capital can only be used for investment purposes or the additional interest will not be tax deductible.
Is there any way to access the equity in my IP?s to use for a PPOR deposit without selling an IP?
If you redraw from an IP and invest in a more liquid asset such as shares, if you were to sell the shares is that capital then available for use as a deposit for a PPOR without affecting the original tax deductible loan?
Many thanks for your thoughts/ comments..
Is there any way to access the equity in my IP?s to use for a PPOR deposit without selling an IP?
If you redraw from an IP and invest in a more liquid asset such as shares, if you were to sell the shares is that capital then available for use as a deposit for a PPOR without affecting the original tax deductible loan?
Many thanks for your thoughts/ comments..