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Tax Saving Tips for Year End

Friday, June 29, 2012

Year End Tax Tips for Individuals and Businesses - Save Tax Now - Hurry ends 30 June

n  Delay Income – invoice or get paid after 30 June

n  Bring forward expenses

n  Prepay Expenses up to 12 months in advance

n  Maximise Concessional Super Contributions – up to $25,000 or last opportunity for those over 50 to contribute $50,000

n  Maximise Medical Expenses as thresholds change next year

n  Utilise the Super Co-Contribution –for the last time the Government will match up to $1000 -  reducing to $500 from 2012

See www.wfscanberra.com.au/ for more info

 

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