Does your company owe you money?

Recently I have been seeing accountants have their clients increase their business borrowings to cover repayment of shareholder loans. These funds are then used to pay down home loans and in some cases reducing the full debt and thereby releasing the directors home as security. Company debt is then repaid from the business income and the interest is tax deductible. If you haven’t done so this maybe a good time to discuss with your accountant and your commercial finance broker on ways to pay your loans down faster.