Regular payments to Investment loan

Regular payments to IO Investment loan

I'm a new to prop investing and I'm thinking about making fortnightly payments to my Interest Only Investment loan to reduce the amount of interest charged on it to a point where I can manage the payments comfortably.

Yes I know you are probably thinking "Well Duh!", but question is; Will I be able to make a tax claim if they are voluntary payments?
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You do not receive a tax deduction for paying down Principal on an investment loan.
You do receive a tax deduction for the Interest component of an investment loan.
As prop said- you only claim the interest paid. So the more you pay down the less deductions you can make.

And as Buzz eluded to- if you have other personal debt, better to pay that off first.

Also check the loan. Are you able to make extra payments?
@propertunity - Thanks for that. Come to think I am actually reducing the principle in this case and not the interest component of it.

@buzz. No other debts, that's the only debt I have.

@travelbug - Its funny how one starts seeing something differently when someone else points it out. I guess I now have to work out whether its financially beneficial to claim more or reduce monthly payments.
And Yes, the loan allows me to make extra payments...well I assume it does coz it wouldn't give me the option to "Create or manage direct loan repayments"
If you are going to pay down the loan put the funds into an offset account, not directly into the loan or you wont be able to pull the money out again without causing headaches come tax time.