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With less than two months away from the new financial year, we need to ensure you are giving yourself enough time to take appropriate action with respect to your tax deductions. This year people have been more focused on their health, what their incomes look like, whether they had a job or not, and what has happened to their investments & their superannuation as market volatility caused investments to plummet.
COVID-19 virus has turned the world on its head and working from home has become the new norm for many industries. If working from home, clients will need to include running cost deductions in their tax returns. We recently sent out an email to all clients on 9 April 2020, discussing the details of claiming working from home expenses. In case you never got a chance to read that email, click here to learn more information. In addition to the above mentioned, of course, we still have the usual tax strategies, such as:
And of course, our favourite – Super Contributions Table. I am sure your tax adviser will run through these with you in detail, in the meantime, we have provided some details on superannuation strategies. Get smart about your Superannuation Strategies The end of the financial year is fast approaching, which means it is time to get smart with your super. There are a lot of different super strategies and we are here to help you find the strategy that could be the most appropriate for you – today, and further down the track. Explore your options Click the following link to read more about 'Smart Super Strategies for this EOFY – 2019/20’. It outlines a range of strategies available that may help you boost your super and retire with more – but if you put them into action before June 30, you may also start seeing benefits a lot sooner. To find out what is right for you, give us a call on (02) 9369 5333 before the end of financial year, June 30. We will talk you through the Smart Super Strategies that may help you achieve a better lifestyle in retirement. |