With the end of financial year (EOFY) approaching quickly, now is the time to discuss with your accountant and financial adviser the actions you can take before 30 June to reduce your tax and grow your wealth.
For 2018, key priorities are likely to be:
- Maximising superannuation contributions without exceeding the relevant caps
- Bringing forward deductible expenses
- Deferring taxable income, and
- Managing capital gains.
This is the first EOFY since the super reforms came into effect. So, there are new contribution limits to consider, as well as new opportunities for you to grow your super and pay less tax.
The sooner you get in touch with your accountant they can get start implementing tax saving strategies. If you’re interested in reducing your tax and need to speak with an adviser – contact us.
For more information, check out our tax minimisation guide below –
- Minimise your personal tax guide (download)
Our team has a great deal of experience in this area. Here Business & Wealth is your trusted business management partner, financial advisor and accountant all rolled into one. If you need advice on Tax Planning or on any related matter, chat to us.