We have 2012/2013. Accountant is doing 2013/2014.. another frustration because it's a new accountant since the previous one retired. The new mob cant give a date :-(
What are the 2013 financials like? I would be leaning on the new accountant to get new financials done up ASAP. Will make future borrowing a lot easier.
Did you mean we can declare the rental income without CBA taking mortgage over our 2nd IP?
Absolutely, but you would have to own the property or signed contact to purcahse the property. Can't borrow the funds based on planning to buy IP and get rent as this might not happen.
As mentioned earlier you want to ensure that the borrowings are structured in a manner thats not going to impact you in the future. Make sure the loans aren't x-coll. Each loan should only be secured by ONE property. You can have a property that secures multiple loans, but don't want loan secured by multiple properties.