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Things to consider before 30th June

These tips could help you save on tax and fees

With the end of financial year fast approaching now is a good opportunity to review your super savings with your adviser. More and more people are finding that a conversation at this time can help them build for a better lifestyle tomorrow – with the added potential of saving on tax this financial year.

3 tips to consider that could help you save on tax and fees:

1. Top up your super

By topping up your superannuation with some of your pre-tax salary you could reduce the amount of tax you pay this financial year. You can contribute up to $30,000 of your pre-tax salary to super this financial year (including your employer’s contributions) and have those contributions taxed at 15% (or 30% if you earn more than $300,000 a year)  instead of your personal income tax rate which is usually higher.

2. Give something extra to your partner

If you have a partner who isn’t working or is earning less than $10,800 this financial year, you may be able to claim an 18% tax offset on the first $3,000 of after-tax contributions you contribute to their super account.
3. Bring your super together

Having more than one super account means that you could be losing money by paying multiple sets of fees. A way you could avoid this is by consolidating your super. Speaking to an expert can help determine whether these strategies are right for you.


Talk to an expert today, or call 1300 346 837
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