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DTW
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I am going to be starting fresh and purchasing the franchise from the head franchisor. The more I think about it, interAccounts idea is a sound one in my case – I’ll pay all the cash from my offset account into the mortgage and then redraw it from the loan for the purpose of purchasing the franchise. On the basis that the purpose of the withdrawal is for business purposes all interest payments relating to the redraw will be fully tax deductible. This will solve the issue of not having to explain to the bank about the gap in my income history.