HI
Yes, it is possible but you should be aware that the tax office do not like this arrangement and issued an alert about a year ago now.
However, this alert really deals with units trusts and assumes that the intention of the exercise is merely to claim the interest on your PPOR as a tax deduction.
So, if you have more than one property inside the trust, there principal arguement should fail. Furthermore, if you have a clear intention to ceate a portfolio of properties inside the trust and this one will become a legitimate IP in time, then, you would strengthen your arguement.
As you can see, the answer is yes, but, be careful and seek good advice about what you could do to help yourself.
Cheers
Dale