As we approach the end of the tax year (June 2022) it’s time to start thinking about superannuation strategies that you can use to your advantage. The often forgotten but by far the biggest payoff exists for those in the lower to mid tax brackets (with income less than $57,016) with what I term a ‘free hit’ where you can receive up to a 50% return on your contribution.
Categories for Tax
Written by Aaron Alston. you make when you have acquired an asset after 19 September 1985. There are exceptions to the rule: the main one being the family home.
Written by Michal Park - Senior Adviser Okay, now that we’ve done all we can pre 30 June, let’s consider a few post 30 June strategies: 1. Have you lodged your Notice of Intent to claim a tax deduction form? Individuals who made non concessional (after tax) superannuation contributions through the year may reclassify them as concessional (taxable) if they, after assessing their tax position, need a deduction.
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