In this 4-minute video iChoice principal Jason talks about lending and tax liability. It’s essential viewing, particularly if you have an investment property… and it illustrates the need to have your mortgage structured efficiently for maximum savings.
Jason talks about cross-collateralisation to ensure that you maximise the tax benefits from an investment. What determines the tax deductibility of a loan is the purpose of the loan (not what it’s secured by)… and Jason talks a little about this.
Jason talks about basic strategies to employ if you plan on any property improvements on your investment property. He touches on how you can borrow a car on a interest only arrangement to minimise residential borrowing.
iChoice is one of few mortgage brokers that has tax experts on staff that can make sound recommendations to mitigate the liability that comes with any borrowing. Contact us to find out more.