With 30 June fast approaching, now’s the time to put in place the strategies which could save you paying more tax than you need to this financial year and look at the most appropriate tax strategies for the 2018 tax year.
One strategy you could consider now is funding your insurance premiums through superannuation. And for the more comprehensive insurance usually only available outside of super there are tax-effective options, including pre-paying income protection premium and ‘linking’ your policies.
You can access our tax tips and tax return checklist by clicking here to help you prepare for the end of the financial year. This includes a list of items that may help you to finalise your tax return, and some handy tax tips on:
- prepaying interest
- self-employed super contributions
- super co-contributions
- offsetting capital losses
- negative gearing
If you would like to take advantage of some of these strategies or would like to know more about the best tax-effective investments, please contact our office on (03) 9374 1133.
This is general advice only and does not take into account your financial circumstances, needs and objectives. Before making any decision based on this document, you should assess your own circumstances or seek advice from a financial adviser and seek tax advice from a registered tax agent. Information is current at the date of issue and may change.