More money in your pocket with tax-effective strategies

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 2019 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.

We have provided a tax tips and tax return checklist 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:

  • making voluntary super contributions and claiming a tax deduction
  • prepaying interest
  • 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 us.