It’s that time of year again when your self-employed clients are procrastinating the filing of their taxes only to find out that they have big tax liabilities. If they are just preparing for it early, they would’ve figure out a solution to lessen the burden in paying these taxes. Check out our scenario below.
Client is refinancing a house loan with three late payments and tax debt to improve cash flow.
70 percent LVR, completely verified self-employed.
Due to direct debit complications, home loan instalments were three weeks late.
Because the ATO’s repayment schedule was excessive, there was a large tax obligation that needed to be paid.
Refinanced home loan and tax debt with two splits. The tax obligation was subsequently put on a manageable repayment schedule, which helped with cash flow.
A near-prime contract was approved, with a 3.49 percent interest rate and a 30-year duration. There is no risk involved. A hundred percent offset.
Are you also behind your tax obligations on your property? Click Here to book your FREE Strategy Call and we’ll help you ease out these tax burdens.
“Did you know that we don’t require 2021 lodged ATO returns for all loans approved prior to March 31st 2021”
There is no credit score, no CCR, or no DTI.