Convert non deductible cashout to deductible

Hello Finance Gurus,

Could you please help clarify following scenario ?

1. Cashout $10k from a property for non deductible purpose by creating a new offset & new top up (loan) account.
2. Build up cash $10k
3. Now , I need $10k for Investment purpose.

Is there anyway I can turn my initial cashout to deductible now ?
I don't want to utilize my $10k cash and loose the tax deductions.

Thanks in advance.

 

Pay $10k into the loan and then reborrow it to invest.

 

Thanks Terry.

So you mean.. I pay $10k to my loan account and then again redraw it back to my offset account?

 

see


Tax Tip 1: Parking borrowed money in an offset account

https://propertychat.com.au/communi...ing-borrowed-money-in-an-offset-account.1313/