By Liz Maroney, Westlawn Financial Adviser SMSF Specialist adviser™ 13 April 2017 With the end of the financial year approaching, now’s the time to make smart decisions about your finances and get your end of financial year strategies in place.
If you’re running your own business, there could be some tax concessions if you’re proactive about growing your retirement savings through super. If you are self-employed or a partner in a partnership, you won’t get Super Guarantee (SG) contributions from an employer. This means you’re responsible for making sure your super balance grows. While it’s […]
With the end of financial year fast approaching, here are some super year-end planning tips to help you understand what you could do in relation to your super before and after 30 June 2015. Increased tax deductible contributions cap for anyone 50 and over For anyone who was under 49 on 30 June 2014, the […]
With the end of financial year just over 6 weeks away, we highlight 5 effective EOFY strategies you can implement now to help you reduce tax, save money and build your super nest egg for retirement. Have an investment property? You’ll need to know what you can claim this financial year. And if you’re self-employed, […]
If you have a taxable portion within your super fund, and most people do, using a withdrawal and re-contribution strategy can help ensure that you and your beneficiaries pay less tax on money from your self managed superannuation fund (SMSF). Generally, your SMSF super benefit comprises two components: 1. The tax-free portion, which comes from after-tax personal non-concessional […]
In End of year looms for super tax planning published in our June edition of Westlawn Monthly News we wrote of the government’s proposal to ban off-market transfers of assets into self managed super funds (SMSFs) from related parties. Those proposed changes would have required SMSF trustees to obtain an independent valuation of the asset […]
