Australian homeowners are now leveraging tax laws and paying down their homes in under 10 years.
Financially savvy homeowners are saving a large portion of their tax by redirecting it back into their home loan, allowing them to pay off their mortgage in up to 10 years.
According to the ATO, if you earn $100,000 p.a. then you will pay close to $24,497 in tax. That’s roughly a quarter of your income!
That means you are working 3 months of the year just to pay the government.
If you are earning more than that, then you’re paying even more in tax.
It’s a statistic that makes you see red especially when the ATO recently stated that 69 millionaires paid zero tax in 2016-2017, not even the Medicare levy.
To make matters worse recent studies have shown that Australians are paying over 25% of their income to their mortgage.
That means you are working another 3 months of the year just to pay your mortgage.
If you earn $120,000 then you’re paying $31,897 each year straight into the government’s pocket! Are you happy to work 3 months of the year for the taxation office? In 10 years that will be $318,970, and over 20 years this will be a whopping $637,940.
The good news is we can show you strategies to pay less tax, and most homeowners aren’t even aware that they exist.
We can show you the same advanced strategies wealthy Australians use so you can make your money go further and redirect your tax dollars towards your future and the future of your family.
When these strategies are personalised to your situation and combined with the investments that are most suited to your needs, you can accelerate your wealth and pay off your mortgage in as little as 10 years.
What would you do if you had your mortgage paid off and increased your wealth… would you:
– Reduce your work hours and spend that time doing what makes you happy
– Spend more time with your family
– Travel the world and see the places that you have always wanted to visit
Get back a large portion of your tax
Don’t wait until it is too late.
Most Australians will always be focusing on work and missing out on life while trying to get out of debt. What they do not realise is that they could build real wealth and accumulate assets that can be funded by redirecting tax dollars.
It’s unfortunate, but we hear it from people all the time that there only seems to be enough money from paycheck to paycheck. It’s frustrating that there’s nothing left over for the lovely new car, or that long-overdue holiday.
Have you ever heard the saying “the rich get richer and the poor get poorer?”
There aren’t two different systems for the rich & the poor. There are simply those who use it and those that don’t.
While most people are stressing about not having enough money, the rich are using the tax incentives available to all Australians.
Over 1.3 million Australians are enjoying the benefits of these tax savings, now you can join them!
What does paying down your house in 10 years get you?
Do you want to know what it looks like to pay your home loan off in 10 years?
Let’s assume you have just purchased a brand new house for $560,000 at 5% interest.
Total savings $303,124
Which option would you prefer?
RPA has put together a quick quiz to let you know if you qualify to save a large portion of your income tax, which can be used to pay down debt, including mortgages.
These tax savings can be used to pay off your home in as little as 10 years, not 25+ years!
Plus, coupled with the right investment strategy, you can even redirect your income tax towards building an impressive property portfolio. This is where your wealth really starts to accumulate.
Let us help you take advantage of these tax incentives!
Here from everyday Australians that are saving with RPA
* Should you have any queries in relation to any aspect of the information or services please do not hesitate to contact us. Please note we value your privacy, and any information you send to us will never be sold, traded or given to a third-party. The information is of a general nature only. Residential Projects Australia (RPA) recommends that you obtain your own independent professional advice before making any decision in relation to your particular requirements or circumstances. Residential Projects Australia (RPA) is a privately owned company and does not provide tax advice on behalf of the Australian Tax Office. Any financial advice that is given is provided by RPA Financial Planning Pty Ltd who is a Corporate Authorised Representative No. 1265930 of Consilium Advice Pty Ltd AFSL No. 424927. We may also refer you to one of our independent affiliates.