“Our $1,000 instant tax deduction will benefit 6.2 million working Australians… will make tax time simpler and will save taxpayers time and money”
♫
Said on Australian Parliament: House of Representatives
“If you pay $10,000 in deductible interest… someone on a 47% tax… gets back $4,700… after-tax cost $5,300… someone on 32.5% gets back $3,250… after-tax cost $6,750”
Nick Donato · Financial Autonomy · Debt Recycling: Could You Use Your Mortgage to Build Wealth Faster?
Play from 7:43
7:43
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What was described
Illustrate tax benefit of deductible interest at different marginal tax rates
$10,000 interest; 47% marginal tax → $4,700 back; after-tax cost $5,300. 32.5% marginal tax → $3,250 back; after-tax cost $6,750
Said nearby on the same subject
“‘if I’m paying 6.5% on my interest rate, I really need to earn a return in excess of 6.5% net of tax deductions’”
SW
Stuart Weems
The Money Puzzle ·
“When we combine this with our other tax cuts and the $1,000 instant tax deduction”
♫
Said on Australian Parliament: House of Representatives
“It's because of the tax treatment of debt… you can deduct your interest payments… you can be a very strong junk company”
RW
Rob Wigglesworth
Better Offline ·
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