Loan to take capital out of property

[Juicy Guava]

Like most, my property has realised capital gains and has over $600k equity. My current account balance is zero. The structure is a look through company. My question is this. Is the LTC allowed to take out a loan of $150k against the rental property and give that to me for personal use, essentially realising some of the capital gain and then be able to count the loan interest as a deductible expense?

[Anthonyacat]

Not with a zero current account balance. Speak to your accountant on ways of getting that balance up. Then yes.

[Juicy Guava]

Ok great thanks for the feedback.