I've been using this set up for 14yrs and never had problems with it so I will continue with the same. My accountant is aware of how it is structured and never queried it but if I was audited I don't think it would be an issue because i'm not truly capitalising interest as my loan is mostly P&I which probably makes a difference.
Anyone with CBA, how to structure with MISA account?
- Thread starter TN_
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Just to go back to an earlier part of this thread, if I built up funds in my offset against my PPR loan, and then decided I wanted to use those funds for investment purposes, could I use the offset funds to pay down my PPR loan, and then apply for a LOC or other facility to access the newly created equity, and then use that for the deposits and costs? This is different to just redrawing I assume as I could show the purpose was for investment and keep it clean?
Yes that would be the better way of doing it to maximise the tax deductibility of the debt.
Watch this space
What do you know?
Watch this space
If anybody knows....he will!!!
Watch this space
I've been hearing that for 8 years now...
the change to the MISA will happen around the same time as when the bank introduces an interest free mortgage
ta
rolf
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