June 02, 2024

Luke on 2CC – How to maximise your tax deduction from an EOFY super contribution?

19 minutes

Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in Money Matters, which aired live on Friday 31 May 2024. With the end of financial year just around the corner, this weeks topic looks at ‘How to maximise your tax deduction from an EOFY super contribution’. Thank you for joining us live on 2CC or your favourite podcast streaming service.

Key topics covered include:

How do I know how much super has been contributed this year?

Is there any more contributions coming in before the end of the financial year?

How much ‘space’ do you have, you can ‘top up’ that space

You can contribute up to your contribution limit – $27,500 this year

How do the concessional catch-up rules work – can you use your space from previous years?

Should I use all my catch-up space if I have it in one year?

How do I notify my super fund of my intention to claim a tax deduction?

Don’t forget to give the confirmation you get from your superfund to your accountant at tax time.

Luke shares his top tips around super. tax and end if financial year planning.

https://www.envisionfinancial.com.au/wp-content/uploads/2024/06/The-Strategy-Stacker-Luke-Talks-Money-31052024.mp3

This podcast is also available on Apple Podcasts and Spotify – ‘The Strategy Stacker – Luke Talks Money’

Have you thought about your EOFY Super and tax deductions?

Have you been thinking about how to maximise your tax deduction from an EOFY super contribution? The clock is ticking. Seek financial planning advice if you require assistance and don’t forget to talk to your accountant and superfund too.

Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals, including investment, super and retirement. Make an appointment to confidentially discuss your goals. Call Envision Financial Services on 6260 4749. You can use the contact us form to make an appointment, for a confidential discussion about your situation.

Luke will return to 2CC to talk about other ‘Money Matters’ next week. You can catch up with ‘The Strategy Stacker – Luke Talks Money’ podcast at a time that suits you.

We look forward to your company again and Luke’s book Smart Money Strategy is out now.

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By Luke Smith