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Financial Year-end checklist 2012

You want to save tax, right? The following financial year-end checklist 2012, is of items that you need to get in place by the end of this financial year so as to minimise your tax for this year, or ensure that next year’s tax burden is lightened:

  • Capital Gains: offset strategies are available
  • Superannuation Contributions: can you contribute more without breaching the ‘cap’?
  • Income Protection Insurance: act now to get a premium paid for this year
  • Geared Investments: fix and pre-pay interest if strategically able
  • Pre-Retirement Allocated Pension: achieved a ‘condition of release’? Where suitable a pre-retirement pension can save tax and increase super savings!
  • Government Super Co-Contribution: if you’re eligible you need to make a NCC before 30 June to benefit (see our article last month)
  • SMSF Investment Strategy: is your documentation up-to-date ready for the year-end audit?
  • Spouse Super: (if eligible to do so) make a deductible contribution to your spouse’s Super account; or split your own contribution to their account
  • Small Business Capital Gains: make sure any rollovers are lodged within required timeframe

Speak to your Accountant (for a detailed financial year-end checklist 2012) or Contact Us if you need any assistance to ensure your wealth management strategy for this year is best for your circumstances.

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