This is really helpful. Thanks again.

Thank so much Terry. One more question.How about a Loan Account with an Offset account? My bank told me that a Loan account wiht an Offset account will have lower interest charged compare to LOC but not sure if is it tax deductible if I use the money for IP. They advise me to talk to an accountant.

Terry,Is the interest charged on the LOC tax deductible if I use it as 20% deposit for an IP? Thanks.