Good Debt, Bad Debt, Ugly Debt: What the May Budget Changed

A $10,000 credit card limit can quietly cost you $50,000 in borrowing power, even with a zero balance. In this episode, Michael breaks down the difference between good, bad and ugly debt, and reveals how the May federal budget just flipped the old rule about which one your home loan really is.🔔 Subscribe and leave a comment with your questions, we build episodes around what YOU want to know.General advice only and not personal advice. CRN 485467---------------------------------In this episode:Why the cash rate and the May budget change how debt worksWhat actually counts as good debtThe old rule: investment debt good, home debt badWhy negative gearing is being quarantined from July 2027How the 50% CGT discount is being replacedWhy your home loan might be the best tax-free asset you ownWhat counts as bad debt and why it should be temporaryHow a credit card limit cuts your borrowing power by 5xThe right way to rank, pay down and consolidate debt---------------------------------Subscribe:https://www.youtube.com/@ThatBackyardPropertyPodcastInstagram: https://www.instagram.com/backyardpropertypod?igsh=MWhkOWx5YzJxdDc3ag==Website: https://tuskfinance.com.auConnect with Michael:Facebook: https://www.facebook.com/tuskfinancemkInstagram: https://www.instagram.com/mortgageswmichaelLinkedIn: https://www.linkedin.com/in/michaelkillinerTikTok: https://www.tiktok.com/@backyardpropertypodcastTusk Finance: [email protected]:(00:00) Good Debt, Bad Debt, Ugly Debt(00:38) Why This Matters Right Now(01:00) What Is Good Debt(01:24) The Old Rule Advisors Followed(01:41) The May Budget Bombshell(02:10) Your Home: The New Tax-Free Asset(02:40) What Is Bad Debt(03:08) Ugly Debt: Credit Cards Exposed(03:44) How to Rank and Pay Down Debt(04:58) Consolidating Debt the Right Way(06:22) Stay Disciplined After ConsolidatingProduced by Podwave Studios: https://www.podwavestudios.au#AustralianProperty #PropertyInvesting #GoodDebtBadDebt #MortgageBroker #FederalBudget #NegativeGearing #CapitalGainsTax #HomeLoan #DebtManagement #CreditCardDebt #PerthProperty #TuskFinance #PropertyPodcast #FinanceTips #WealthBuilding #TaxStrategy #RefinancingAustralia #InvestmentProperty #DebtConsolidation #AustralianFinance #PropertyMarket2027