Should we continue to focus on paying off the mortgage and investing in super?

Q.

I am 48 years of age earning an annual salary around $160k, and my wife earns $75k. My super of $360k is in an industry fund and I salary sacrifice $1k per month on top of the company 9%. We have a mortgage of $300k on our house valued around $700k, and I am currently paying $4,400 per month. I am considering an equity loan of $250k to invest in a managed fund to reduce my tax liability. Is this is a sound move or should we continue to focus on paying off the mortgage and investing in super?

I certainly agree that borrowing for quality shares is a good long term strategy but it won't save you much tax becase the income from the shares will offset the interest you are paying. However, you can better your situation if you use all the income, not the growth, from the shares you buy to reduce your non-deductible housing loan. By increasing your deductible loan by the amount you pay off the non-deductible you will be turning non-deductible debt to deductible debt.