Hi folks,
If I had a negatively geared property which did well for tax purposes, would having an offset saving account be counterproductive?
A negatively geared strategy encourages you to keep the mortgage interest, but having an offset account (eg MISA) would reduce that interest, hence you get less money back from the taxman...
Is my thinking right on this?
If I had a negatively geared property which did well for tax purposes, would having an offset saving account be counterproductive?
A negatively geared strategy encourages you to keep the mortgage interest, but having an offset account (eg MISA) would reduce that interest, hence you get less money back from the taxman...
Is my thinking right on this?