As tax season rolls around, many self-employed homeowners face the reality of a hefty tax bill.
Unfortunately, this can be a challenging time, especially with the ATO becoming more aggressive in its pursuit of unpaid taxes.
For those with equity in their home, using it to pay off tax obligations might seem like a logical solution. However, many banks wonโt allow you to borrow for this purpose, viewing it as an โunacceptable borrowing purpose.โ
This leaves some homeowners scrambling for options, as traditional lenders often turn them away when it comes to tax debt.
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Not all lenders think alike!
While many banks may shut the door, there are several lenders who understand the situation and are more than happy to help. These lenders offer solutions that allow you to tap into your homeโs equity to pay off tax bills without jumping through hoops.
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Better still, the interest rates offered by these lenders may even be lower than what youโre currently paying. This means you could potentially take care of your tax debt without increasing your repayments โ or, at the very least, only seeing a small difference.
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If your bank has left you high and dry when it comes to paying off tax obligations, donโt worry. There are alternatives that can make this process easier and less stressful.
Get in touch with us today to explore your options and ensure you stay on top of both your taxes and your finances.
Email: info@getsmart.today
Phone: 1300 113 530
– we’ve over 30 years’ broking experience
– we’re available 7-days a week
– our service is fee-free to you, the borrower
Smart Mortgage Services
“talking dollars & sense”