Have you considered moving out and renting a house. This would make the 196k tax decuctable as well as the depreciation schedule on the house and all associated costs in the renting and repairing of the dwelling. Also free up cash flow by getting your tax back fortnightly instead of waiting for the end of the financial year. Living in your own home is great but not as financial as renting in out. Once you have more cashflow you will be able to buy more propertys or pay your home off sooner. food for thought