Premium Finance Services Income Tax Calculator

 

Australia is one of the highest taxed countries on the planet. However, the Australian Government through the ATO does give us the opportunity to use our tax dollars under certain conditions to assist us to invest and help us on our way to becoming self funded retirees.


Broadly speaking if you borrow funds for investment purposes you can use part of your tax dollars to help make investing affordable and of course assist you to create financial independence.
There are numerous ways of investing, managed funds, the share market, superannuation ect, and of course, Residential Property.


At Premium Finance Services we specialize in Residential Investment Property. We believe that residential property offers a “safe as houses investment”. With property as an investment vehicle to create wealth, the concessions against your taxable income are maximized. Not only do you get a tax benefit against interest paid on borrowed funds, depreciation on the value of the residence itself, (not the land) but also certain fixtures and fitting in the property are also claimable over a given period of time.


Simply put, most costs associated with the borrowings and the ongoing ownership and maintenance of an investment property are an allowable deduction from your income tax commitment.

For ease of budgeting, most of Premium Finance Services clients favor the tax saving be passed onto them each time they are paid. This is done using a tax variation form. Alternatively, they can claim at the end of the financial year.

Most people are unaware of how to use legitimate tax concessions to create wealth. The problem is that no government gives us a step by step instruction manual that outlines how to do it. We are not taught how to do it at school either. This is where Premium Finance Services can assist you. We can give you the knowledge you need, and the support and guidance required, to enable you to use the Australian Taxation System to your advantage.

Income Tax Calculator Coming Soon.
Premium Finance Services will be providing an income tax calculator shortly that enables you to work out how much tax you pay.