With the end of the financial yr fast approaching now is a perfect time to examine your tax and investment strategies. One strategy for property investors, which you may want to consider is prepaying the interest on your investment property loan. And with interest rates historical low rates, now’s the perfect time. You can prepay up to 13 months appealing that could normally be incurred throughought the entire year as one upfront interest payment. The interest rate applied is set at an annual reduced rate and is most effective with interest only investment loans.
Prepaying interest are a good idea for managing cash flow or budgeting your rental property expenses throughout the financial 12 months. You won’t have to take into account interest obligations for 12 months or worry about fluctuating interest levels. The interest is deductible in the year it is paid. This is beneficial if you anticipate that income may be reduced in the following year.
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For example you may be considering maternity leave, reducing hours, season or developing a leave of lack from work in the following financial. Prepaying interest can become more efficient and saves time. You only need to state a taxes deduction for one prepaid expense, over summer and winter rather than keeping records of multiple expenditures paid.
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Join risk-free with our 30-Day 100% money back guarantee. I am Tim Staermose. I’m the Chief Investment Strategist for Sovereign Man. I completed my education in Australia before moving to Hong Kong to get an investment banker. Though I used to be successful in that career Even, Today I wanted more flexibility and, I manage my own money plus provide good advice for high net worth investors. I’m the editor of The 4th Pillar also. Each day looking for undervalued stocks Looking for value … but unwilling to invest 9 hours. Some individuals in the investment world claim to truly have a “secret” approach to picking stocks. There’s no key to my approach.
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