Jun 06, 2022  | Tags: EOFY, wealth management, Tax Tips

EOFY Planning

The end of financial year is agreat opportunity where a financial adviser can add value to your financial position.

Here are some fact sheets explaining the different opportunities which can help reduce tax:

• Government superannuation co-contribution : An Australian Government initiative to help you save more for your retirement with Government superannuation co-contributions
• Personal deductible contributions : Claim a tax deduction for your personal contributions to super
• Contributions splitting : Splitting contributions may enable your to build super with your spouse and reduce tax (contributions splitting)
• Spouse contributions : Contribute to your spouse's super to receive a tax offset and build retirement savings (spouse contributions)
• Insurance through super : Purchase insurance through your super and gain a tax benefit

To help you complete your tax return, including if you've been working from home, this checklist outlines income and expenses you need to disclose to the Australian Taxation Office when lodging your return.

Speak to your Accountant or Tax Professional for information and assistance with different tax offsets and deductions which you may be entitled to claim.

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The information contained on this article is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

Taxation, legal and other matters referred to on this website are of a general nature only and are based on Calder Wealth Management’s interpretation of laws existing at the time and should not be relied upon in place of appropriate professional advice. Those laws may change from time to time.

Calder specialises in wealth management with a focus on advice, investment, sustainability, insurance and finance.