If you deposit all your savings into one or more Savings Accounts you will receive a nominal sum of interest from the Bank which is then taxed by the Australian Tax Office.
However … if you deposit your savings directly into your Home Loan or 100% Offset Account you will achieve a significantly higher return in interest savings which is NOT taxed by the ATO
Make your $$$ work smarter for you 🙂
(Important: Please contact your Mortgage Specialist or Bank to confirm you can make Additional Repayments to your Home Loan + Redraw prior to depositing any funds)
