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138. Tax Planning for EOFY
Manage episode 420793400 series 3559707
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Welcome back to another episode of the 360 Money Matters Podcast!
In this episode, we discussed the end of the financial year and tax planning tips, focusing on the effective utilization of superannuation. Key points included maximizing contributions, leveraging concessional and non-concessional caps, and using catch-up contributions before deadlines. Superannuation was emphasized for future financial stability through tax planning strategies like pre-tax contributions. We also discussed government co-contributions to boost super balances for low to middle-income earners, spouse contributions for tax benefits, and planning ahead for optimal results with approaching deadlines.
Furthermore, we recommended managing working from home expenses, adhering to good record-keeping practices, and seeking early advice from professionals for effective long-term tax strategies.
Don't miss out on essential tips to maximize your financial stability and make the most of your superannuation! Listen now and take control of your financial future!
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This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis & Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorized representatives and credit representatives of AMP Financial Planning – AFSL 232706
Episode Highlights
Considerations for superannuation contributions
Catch-up contributions and maximizing concessional contribution caps
Importance of strategic planning and contribution strategies
Capital gains tax events and planning for tax efficiency
Keeping receipts for potential tax deductions
Reviewing budgets and financial plans
Importance of early planning and collaboration with tax advisors
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