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  • Profile photo of ScuzziScuzzi
    Member
    @scuzzi
    Join Date: 2012
    Post Count: 3
    March 7, 2012 - 12:34 am

    Thanks Gents,

    Thanks for clearing that up for me.

    Appreciate your time and feedback.

    Regards,

    Michael.

    Profile photo of ScuzziScuzzi
    Member
    @scuzzi
    Join Date: 2012
    Post Count: 3
    March 6, 2012 - 12:10 am

    Thanks Terry,

    Didn't think it was that simple!

    Mortgage Rate 6.4% (CBA)
    Savings Rate 5.0% (CBA Netsaver)

    I was thinkng along the lines of people always saying ….only pay IO is the way to go with IP's. But isn't putting the 50k effectively reducing the P+I and also reducing the amount I can claim back on interest repayments made come finanical year ? I understand I wold loose $2500 in interest earned on the $50k which effectively is closer to half after tax but I would have thought the answer to be more complicated. Perhaps I was just over analying the whole thing?

    Thanks again,

    Michael.

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