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Winter sees the end of another tax year

As winter finally arrives in the southern states we reach the end of another tax year, so provide a simple article to check opportunities haven't slipped through the cracks this tax year.

While the dust has settled on the significant changes to super announced in the May budget, the federal election now in full swing makes it hard to develop strategies in response.  

What we can say this far is that even if the proposals are passed unchanged, super will still offer a better tax structure for holding a significant part of our longest-term savings than any other structure.

If the lower contribution caps are passed it means long-term planning becomes more important than has been the case to date, when last minute catch-up contributions could be made.  We also consider it even more important to implement spouse-contribution splitting each tax year for most clients living as a part of a couple, to minimise tax on retirement savings across a couple.

On a lighter note, we include some tips on staying fit through the cold, dark months.

As always, please do not hesitate to email or call if there is anything you'd like to discuss or clarify; our goal remains to help you achieve your aspirations with greater certainty.

Regards, Michael