Thanks a million guys!! the currency i'm talking about is Euros though the aussie dollar is getting stronger against it. Will speak to an accountant and i'll get back to you.

A colleague of mine at work had a chat with her accountant and said it shouldn't be a problem. However he suggested to find a solicitor for the small print.

"I'm really looking forward to getting into the property ladder… but i'm not quite sure as to wheather to buy one property to live + buy another as an investment or better off living renting and get x1 investment property…. or even x2 investment property and renting at the same time….

We also have $70,000 deposit or as a backup in case something happens."

Is it really worth buying 2 properties to rent + living renting?? I had so many people saying that you are better off living in one and renting the other… I'm confused!!

Anyway guys…. will get back to you re tax implications…

Ta