May 12, 2024

Luke on 2CC – Should I contribute to super before 30 June?

18 minutes

Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in Money Matters, which aired live on Friday 10 May 2024. This show encourages listeners to consider if they should make a contribution to their superannuation fund before 30 June 2024. The end of financial year is just around the corner and many people are thinking about their tax planning. A superannuation contribution may provide you with a tax deduction if you’re looking for one, as well as help boost your super savings for your retirement. Thank you for joining us live on 2CC or your favourite podcast streaming service.

Key topics covered include:

Making a super contribution shouldn’t be last minute, if you miss the deadline, it won’t apply this financial year.

What are 3 strategic reasons you might want to make a contribution to super before 30 June?

How much can you contribute to super, what’s the limit?

How do you make a contribution to super and claim a tax deduction?

Don’t forget your ‘Notice of intent to claim a tax deduction’ and give it to your super fund. Without it, your super fund won’t know you want to claim a tax deduction for it when it comes time to doing your tax return.

What are the concessional catch-up rules?

Can you put money into super and not claim a tax deduction? Why might you do that?

Are there any cons to making a contribution to your super before 30 June?

Luke shares his top tips about making a contribution to super before the end of the financial year.

https://www.envisionfinancial.com.au/wp-content/uploads/2024/05/The-Strategy-Stacker-Luke-Talks-Money-10052024.mp3

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

Have you thought about your end of financial year planning?

There are some strategic reasons to make a contribution t your super before 30 June to claim a tax deduction. Super can be complex, seek advice if you need assistance and don’t leave your contribution too late!

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