Hi Terry,

Thanks for your help . Will the above 80% you mentioned on owner occupied loan tax deductible? The purpose of loan will only be for future property investment.

Thanks

OK. Maybe I’m confusing things. Please let me explain. I have one IP with no offset attached & also no equity to access for building granny flat/or second IP purchase. I do have PPOR with offset attached and enough equity to access for building granny flat. So I’m applying for a second loan/equity release of $120,000 using PPOR as security – this is what I called split loan.

Thanks
Yet

Thanks Benny. Thanks for the hints, I’m just worried I may not be able to provide evidence/invoice for 40% of the project/work as it will be done by myself and my builder friends via cash in hand.
I’m in a process of negotiating a offset attached to split loan – the one I got know is with PPOR loan, also I will make sure bank don’t deposit money in PPOR offset as it will be mixed.

Thanks again. I’m learning a lot through this forum.

Yet