Mortgage Strategy 101 – Ep 9. – Maximising your tax deductions by using a redraw facility

In our video series Mortgage Strategy 101 Ep. #9 David shares with you how to maximise your tax deductions and save money by paying for tax deductible expenses out of a redraw facility on your investment loan as opposed to spending savings from your Grow offset account as this is reducing your home loan interest which is non-deductible.

This is one example of the many mortgage strategy tips that are subsets of our big five mortgage strategies.

David also takes the time to explain why focusing on reducing the interest on your home loan first makes sense, even though home loan interest rates are lower than investment loans.

The critical factor is due to the tax deductions you receive which reduces the effective cost of the interest on the investment loan subject to your tax bracket. This is illustrated on the wall as he takes you through examples based on different tax brackets.

To learn more – contact us directly for a complimentary mortgage strategy meeting!

Our strategic broking service has no fee. We do all the analysis, strategy and leg work for you and have access to 50 lenders.

Step 1 – Plan – Understand you.

Step 2 – Strategy – Determine the right mortgage strategy for you.

Step 3 – Select – Select the appropriate lender with a great rate.

Step 4 – Member – Ongoing strategy and support. We receive fee from the lender, so we provide an ongoing service including our private banking team support.

Why not have the best of both worlds – access to a lender and a Strategic Mortgage Broker and private banking support!

For those of you looking for fiercely independent mortgage strategy advice, we also offer a fee for service option to align with our values. We offered this approach long before The Royal Commission was a thought bubble!

By |2019-08-26T12:18:16+10:00August 26th, 2019|

About the Author:

David Johnston
David is the Founder and Managing Director of Property Planning Australia, author of ‘How to Succeed with Property to Create your Ideal Lifestyle’, co-author of ‘Property for Life – Using Property to Plan Your Financial Future’ and a widely-published media commentator. With more than 20 years of experience, David is passionate about educating others to make informed, and ultimately, more lucrative property investment decisions. David established Property Planning Australia in 2004 – with the vision to educate and empower Australians to make successful property, mortgage strategy and money management decisions.  Property Planning Australia’s operations have earned acclaim and national industry awards for its unique fusion of property planning, education, money management, mortgage strategy and risk management. All supported by multi award winning customer service.