Shamir Brown · The Property Couch · The Biggest Insurance Myths Young Australians Believe | FUNdamental Fridays
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explained that income protection premiums are tax deductible when taken in a personal name
“One thing people often don't realize is things like income protection, uh, when paid in your own personal name can be a tax deductible, um, expense for yourself personally, which means, you know, for a high income earner, potentially with not a lot of deductions, um, you know, every single dollar that they're spending on income protection can actually reduce...”
“When we combine this with our other tax cuts and the $1,000 instant tax deduction”
“Number two would be paying principal and interest repayments on your tax-deductible debt when you also have owner-occupied debt… preserve that, don’t pay it off”
“When the market is down, we leave the diversified stock portfolio alone. We take your income out of your safe, protected accounts that have not lost any money.”
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