The Great Australian Nightmare -Episode 2…….Growing small businesses need very specific tax advice that requires a completely different way of thinking to save themselves tax/cash. DO NOT pay off your home loan and you’ll save thousands. I explain what you need to do in this strategy session.
In Part 1 of the Great Australian Nightmare I alluded that those people growing a small business and creating at least $200,000 in family profit should NOT pay off their private home mortgage and instead invest the money into other growth assets. By doing this you can save upwards of 20% per annum via the correct tax structure.
The Great Australian Nightmare is when a person with a growing small business decides to pay off their home loan and chase the Great Australian Dream. In most cases they are inadvertently paying 100’s and 1000’s too much in tax and there’s nothing sweet about that. They should be thinking the opposite. DON’T pay off […]