Advice needed for using equity for PPOR

Looking for advice on how to best use our equity.
My partner and I are not married but we would like to purchase a property together which will suit our future plans. We both own a property each under our own name.

Current situation is:
Balance on my loan is around 200k. Property is valued around 600k
Balance on partners loan is 370k. Property is valued around 600k. This property will need some renovation work before being rented out.
We currently have savings of 100k in an offset on the 370k loan.
Combined income together is currently 180k.

The plan is to purchase a property together and turn existing properties into rentals. What is the ideal structures or plans to consider to save money and minimise our tax.

 

How much ppor are you looking to buy?

generally (not advice) any new borrowings to buy the new property that you live in will not be tax deductible.

is it viable to live in one of the existing properties?

the savings look a bit low for that income, unless you have been paying off those loans.

 

not much you can do to save tax as you already own and have funded the 2.
Get some tax advice on
a) when you became spouses,
b) disposal of each property to each other
with each of you borrowing 100% to do so.

If the properties are in vic not much of an opportunity to save stamp duty unless it is a gift, but then this will affect the deductibility of interest going forward.

 

We're looking to spend 700k-850k.

We've considered renovating the existing properties but that will require spending 150k+ to have everything we want.

Both properties we're purchased within the last 3 years for 600k.
I valued the properties at 600k just to be safe.

 

those loan balances look unusually low then. Have you been paying off the loans or had big deposits? Instead of using offsets?