Minimise tax & bolster your financial independence
Updated: May 18, 2022
The new financial year has rolled around and it may be the perfect time for you to start thinking about optimising your opportunity to create wealth and bolster your financial independence. REIF are on a mission to assist as many people as possible with making the most of their situation to minimise tax and bolster their wealth through property investment.
Does the thought of reducing tax and keeping your hard earned money in your pocket sound intriguing to you?
Well, we're going to explain how we are helping clients do just that!
Let's look at numbers to get a better understanding on how this could work to benefit you!
On average, if your income is $120,000, you're contributing a quarter of that to tax each year! Ridiculous - we know! All your blood, sweat and tears; gone into paying the tax man.
Well, did you know that the Government is actually supporting those who are buying property to produce a passive income?
If you currently own a home, you can leverage the equity that you may have in your property to borrow up to 100% to fund an investment property. A property that can produce you, in some cases, anywhere between $100 to $250 per week. That's up to $10,000, often more, each year!
Oh but it doesn't stop there. In addition to that, through negative gearing and tax write off's, we are seeing that one investment property is producing our clients $5,000 a year in tax refunds. If you maximise your portfolio to lets say four or five properties, you could be making $25,000 a year in tax write offs. Therefore, minimising how much you're paying in tax and creating wealth to fund your retirement.
We love passive income. Here's why...
Did you know that the average millionaire has seven streams of income? The majority of which have or are still using property investment as a means of supporting their financial independence. In today's day and age, it's more important than ever that we are diversifying our income streams. In addition to our every day jobs, we should be thinking about how else we can produce a passive income.
Property investment is our favourite method of passive income! The thing with passive income is that it requires minimal effort and can literally be produced as you sleep.
Why buy an investment property?
Buying property for investment purposes provides investors with great tax incentives. It also provides security that other investments often lack. The value of property generally appreciates with time. In saying that, the more demand that there is for a property and it's location, the more that rental prices increase.
To read more about why buying property is a better investment strategy, be sure to click here for an article we wrote a little while back outlining the advantages of property.
To make the most out of your money this next financial year, be sure to take action! Our national team of finance and property specialists would love to be able to support you on your journey to wealth creation. Make your hard earned money work for you and NOT the tax man. Reach out today on the details provided below.
Ph: 1300 130 932
We explore this topic in our eBook 'Building Wealth Through Property.' Check it out here for FREE!