Paid-off IP

Discussion in 'Accounting & Tax' started by Perp, 3rd Sep, 2019.

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  1. Perp

    Perp Well-Known Member

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    18th Jun, 2015
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    High income earner who had more cash than he knew what to do with a few years ago paid off his IP loans. :/

    Now his income tax bill is huge due to IPs being cashflow positive, and he also wants to do some non-tax-deductible spending (eg upgrade PPOR).

    Any creative ways to regain the tax advantages of having the IPs leveraged, or transfer these profits to a more tax-effective entity?
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Australia wide
    Most of these would work
    Strategy: 11 Strategies for when you move out of the PPOR and keep it Strategy: 11 Strategies for when you move out of the PPOR and keep it
     
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