Archive for November, 2016

RP Wealth Management |Debt Management| Oran Park & Narellan

What is ‘Good debt’? Deductible vs Non deductible debt

At RP Wealth Management, we always review our client’s debt and educate them on the difference between the net cost of deductible debt versus non- deductible debt.

 

Common examples of ‘non-deductible debt’ include taking out a home loan to purchase a property you intend to live in or paying personal expenses with your credit card.

Deductible debt includes interest on borrowings which can be offset against your taxable income which as a result reduces your overall taxable income eg. An investment property with a loan attached that is rented out.

The worst would be non-deductible debt and is debt that you pay down and receive nothing back in terms of tax deductions.

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Level 2
351 Oran Park Drive
Oran Park N.S.W 2570

  • Ronald has always gone above and beyond for getting the best for my husband and I. He is always very punctual and helpful in giving advice. Ronald makes us feel comfortable and that no question is a silly one. I would 100% recommend him to anyone.

    Matthew (32) & Yasna Dench (31)
    Regional Sales Manager | Special Education Teacher

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    Deputy Harbour Master

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    Retired

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    Warehouse Supervisor

  • Ronald at RP Wealth Management offers an invaluable service to my Estate planning clients by providing professional advice about protecting their family and their wealth with different insurance products in the event of a tragedy. Ronald is incredibly knowledgeable and always provides exceptional customer service to his clients.

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    Solicitor

  • I have had the pleasure of dealing with Ron and have found him to be both knowledgeable and sincere. He is someone that believes that if you do the right thing by people they will do the right thing by you. I would not hesitate to recommend Ron to people that are looking for someone to provide them with an ethical outcome

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    Accountant

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