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Tax Minimisation

Wednesday, June 27, 2012

Individuals looking to maximise their superannuation dollar, who will earn less than $61,920 in the 2011/12 financial year should look to make an after-tax contribution to their superannuation to qualify for the Government Co-Contribution.

At present the government will match after tax contributions dollar for dollar up to a maximum

of $1,000 for a person earning up to $31,920. The maximum then reduces by 3.333 cents for every dollar of total income, less allowable business deductions over $31,920 reducing to nil at $61,920.

From 1 July 2012, the maximum co-contribution payable will be halved to $500 a year

Tax Saving Strategies / Super

Friday, June 15, 2012
If you have any spare cash now is a good time to consider boosting your 'concessional' superannuation contribution before 30 June.  Any contribution made is tax deductible and can save you tax.  Employee's need to contribute via salary sacrifice whereas self employed or retirees can contribute directly.   From 1 July onwards the contributions cap for over 50's is reducing to $25,000 so now is the time to consider whether to take advantage on the higher $50,000 cap that applies until June 30. For more information visit http://www.wfscanberra.com.au/

Tax Deadline is not 31 October - call WFS for help. 02 6162 4546

Friday, October 28, 2011
Hi all,  It is a misnomer that the tax deadline is 31 October.  Tax agents can lodge anytime up until next May.  BUT you need to be on our lodgement program before 31/10.  So call us now on  02 6162 4546 to register.

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