Bump

Cheers Terry.

Phone assistance outlined best to go into the branch. Apply for the split in the branch.

Anyone had issues with bank’s withholding redraw requests? They have outlined on the phone it is not subject to credit approval.

However, is there a risk the redraw may not be released?

Great – thanks very helpful.

Thanks Terry.

So I pay $800k into redraw. Then call CBA and ask them to split it based on required amounts then pull out the 800k?

So will have two limits – 1 limit for $800k and the other for $200k?

Thanks Terry.

So I pay $800k into redraw. Then call CBA and ask them to split it based on required amounts?

So will have two limits – 1 limit for $800k and the other for $200k?

How do I split? Is it a new credit approval request or is it easy to have a bank put two limits?

I interpret the 800k would be deductible if put in redraw then drawn out for purpose of buying another income producing asset

What does splitting the loan mean? It is one limit.

Thanks

I interpret the 800k would be deductible if put in redraw then drawn out for purpose of buying another income producing asset

What does splitting the loan mean? It is one limit.

Thanks

I interpret the 800k would be deductible if put in redraw then drawn out for purpose of buying another income producing asset

What does splitting the loan mean? It is one limit.

Thanks

I interpret the 800k would be deductible if put in redraw then drawn out for purpose of buying another income producing asset

What does splitting the loan mean? It is one limit.

Thanks

ATO tax guidance suggests otherwise.

I interpret the 800k would be deductible if put in redraw then drawn out for purpose of buying another income producing asset

What does splitting the loan mean? It is one limit.

Thanks

ATO tax guidance suggests otherwise.

I interpret the 800k would be deductible if put in redraw then drawn out for purpose of buying another income producing asset

What does splitting the loan mean? It is one limit.

Thanks

ATO tax guidance suggests otherwise.

I interpret the 800k would be deductible if put in redraw then drawn out for purpose of buying another income producing asset

What does splitting the loan mean? It is one limit.

Thanks

ATO tax guidance suggests otherwise.

I interpret the 800k would be deductible if put in redraw then drawn out for purpose of buying another income producing asset

What does splitting the loan mean? It is one limit.

Thanks

ATO tax guidance suggests otherwise.

I interpret the 800k would be deductible if put in redraw then drawn out for purpose of buying another income producing asset

What does splitting the loan mean? It is one limit.

Thanks

ATO tax guidance suggests otherwise.

I interpret the 800k would be deductible if put in redraw then drawn out for purpose of buying another income producing asset

What does splitting the loan mean? It is one limit.

Thanks

ATO tax guidance suggests otherwise.

I interpret the 800k would be deductible if put in redraw then drawn out for purpose of buying another income producing asset

What does splitting the loan mean? It is one limit.

Thanks

ATO tax guidance suggests otherwise.

I interpret the 800k would be deductible. SO the blunt “no” is not really accurate.

Thanks

So if I move back into the property and it becomes my principle place of residence and put 800k into the redraw then redraw to buy a new property for $1m (80% LVR). Are you saying none of the interest is deductible against the rent of the new property? The ATO tax guidance appears to outline it will be. How much will be tax deductible?