With the End of the Financial Year 2022 is fast approaching, there are a number of strategies that are well worth considering:
1. Maximising your superannuation concessional contributions
2. Using the ‘carry-forward’ provision to make concessional contributions
3. Making a Spouse contribution
4. Utilising the Government Co-contribution
5. Prepaying interest on investment loans
These strategies are worth considering because we work on a “use it or lose it” system in Australia, meaning if you fail to implement the strategy before the end of the financial year, you lose the benefits. All of us ONLY have a limited number of years at a higher marginal tax rate, so it makes sense to utilise these strategies when possible.
We hope you enjoy this short video, and welcome to contact us if you have further questions.