Maintaining deduct ability on PPOR loan with offset accounts

Just wondering if possible to split a ppor loan and attach empty offset accounts to each split to redraw into in order to maintain deduct ability.

 

I think a bit more explanation is needed here. Your PPOR loan generally isn't tax deductible, so I'm not sure how you expect to 'maintain' this status?

That said, most lenders do allow you to attach offset accounts to multiple loan splits.

 

Tax Tip 1: Parking borrowed money in an offset account Tax Tip 1: Parking borrowed money in an offset account

 

Thanks for the responses

 

Yes as Peter indicated the redraw of funds must always consider how the redrawn funds then in a offset are subsequently USED as to whether any is deductible. Most lenders will allow a single offset v a single loan. Few lenders (AMP?) allow multiple offsets vs a single loan. None I am aware of allow multiple loans with one offset and this may be a really foolish idea as it may reblend what was split. Happy to be corrected by our experienced brokers on this offset position

 

From experience CBA have this functionality.
Not sure about others.

 

Multiple offsets can be a trap too. It's not unlike crossed loans but quite passive until a sale or refinance occurs

 

But only if borrowed money parked in them.