PAYG variations are attractive to taxpayers who have negatively geared investments (such as rental properties or share portfolios), and receive large tax refunds when lodging their annual tax returns. This strategy involves lodging a PAYG variation with the ATO in July of each financial year to bring forward the tax benefit. Once the PAYG variation…Read More »
Mortgage offset accounts are savings accounts that are structured so your savings balance in the account is offset against your home loan account. The advantages of mortgage offset accounts compared to normal savings accounts are: The mortgage offset account balance reduces the interest payable on the home loan account. As no interest…Read More »
Debt recycling is a three-tiered financial strategy that aims to generate future wealth, reduce the home loan, and minimise tax. Debt recycling achieves this by using the current home loan equity to invest (in shares, property and managed funds), and in the process turns non-deductible family home debt into tax-deductible debt. For debt…Read More »
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2