Australia’s household debt to income ratio has hit nearly 200 per cent, a level UBS analysts have called “extremely elevated” and “one of the highest in the world”. Total household liabilities have been revised upwards to $2.466 trillion, or 199.7 per cent of disposable income, by Australian Bureau of Statistics.Jan 17, 2018
18 months later the debt outlook is not looking any better and with little positive news in sight.
While a lot of us are aware of our personal debt position it is difficult to get out of this maze. We at Optima Accountants can assist you in sorting your debt situation.
Debt recycling is the strategic co-ordination of cash flow to achieve home loan reduction, tax minimisation and wealth creation all at the same time. This strategy is designed to maximise wealth creation opportunities and to pay off your home loan sooner allowing you to secure your financial future.
Debt recycling is a financial strategy that can help you get ahead by replacing your home loan (non-deductible) debt with investment (tax deductible) debt over time. It enables you to:
Debt recycling is a long-term strategy that can help you achieve your retirement income goal. Debt recycling can provide an alternative to superannuation by allowing you to accumulate wealth in the non-superannuation environment which provides access to funds in the future if required. This may be appropriate if you are looking to retire prior to your preservation age (the age you can get access to your superannuation benefits).
Debt recycling simply uses your existing home loan repayments more efficiently to get a better result through interest savings, tax savings and long-term wealth creation.
We believe each person is capable of achieving any dream they set their mind to, and we recognise our role as a trusted advisor in guiding you in attaining your dreams.
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