Set up of mortgage payments

[Emo21]

So just about to settle on a new ip which I have borrowed extra funds on ( buying the house in partner ship and partner paying cash )has an off set a/c which will have the extra funds deposited in

Loan 1. -new investment 3
off set account - has excess funds from the new purchase

Loan 2 - investment 1

Loan 3. - investment 2

Loan 4 - Ppor
off set account

So rent from investment 1, 2, 3 paid in to ppor off set account and mortgage payments for mortgage on investment 1, 2, 3 come out of ip 3 off set with the extra funds.

For tax purposes I am using the extra fuNds borrowed against new investment to pay the mortgage repayment on my other investments. So all the interest charges from new loan are deductible by me.

And my ppor interest is lower cause all rent and wages paid into it


Is this set up correct or am I contaminating any deductions

 

[thatbum]

...You borrowed extra money just to put into an offset?

 

[Emo21]

The extra money is to be used for development of the block in the future, the new ip is subdividable

 

[Terry_w]

I would advise not to borrow and park in an offset.