End of Financial Year Tax Tips
The end of financial year is almost here! Now is the time to review what strategies you can use to minimise your tax. 1. MAXIMISE DEDUCTIBLE SUPER CONTRIBUTIONS Individuals can now make tax-deductible personal contributions to superannuation to reduce their taxable income. The advantage of this strategy is that superannuation contributions are taxed at 15% or 30% compared to typical personal income tax rates of between 34.5% and 49%.Superannuation… Read more