What do you mean my credit card with nothing owing is a liability?

That’s right, in the eyes of a bank, any liability you have – like a credit card, afterpay (https://www.uploans.com.au/blog/2019/08/16/afterpay/) or interest free card will be treated in the most risk averse way. What that means for your credit card is: – If you have a credit card with say a $15,000 limit and you’ve never spent a single cent on it: the bank will treat this as though you owe $15,000 […]

I want to buy a car – which way should I go about it?

There are a number of ways of going about buying a car, here’s a bit of pre-reading for you. First let’s be clear that the below information is relating to buying a car where there will be no taxable benefit (ie: a car for your personal not business use). If you’re not sure, chat with your accountant and get their best way to go about doing the borrowings. First thing […]