Despite the proposed tax changes in the 2026 Australian Budget, we recommend utilising the usual tax strategies at the end of this financial year. Since these changes are not yet legislated, established tax planning methods, such as maximising deductions, utilising tax offsets, and making contributions to superannuation, remain effective strategies. It’s essential to focus on actions that can optimise your tax position under the current laws while staying informed about the upcoming changes.
2022 has been anything but ordinary, but one thing that remains a given is the end of financial year. As always, there are essential tax planning opportunities and matters to consider in the lead up to 30 June. This is also an ideal time to look at how you can boost your superannuation contributions. There are a number of advantages to contributing money to your superannuation, one of the most attractive being tax concessions.
Hands up if you would like to pay less tax. If you’ve had an unexpectedly good year or have sold an asset, tax can become a problem. With the right advice, there may be a solution. Local business owner, Mitch recently came to us for help after selling a property. He was looking down the barrel at a large tax bill and wanted to know if he could minimise this if possible.
2020 has been anything but ordinary, but one thing that remains a given is the end of financial year. As always, there are essential tax planning opportunities and matters to consider in the lead up to 30 June. This is also an ideal time to look at how you can boost your superannuation contributions.
