Significant changes to the superannuation rules and the small business tax rate mean it’s worth paying a little extra attention at tax time this year.
Here’s what any tax adviser worth their salt should be considering to help you reduce your tax bill and improve your savings.
Make extra super contributions
Major changes to super have now been legislated. For most people, it is worth considering making extra tax-deductible or personal contributions, says HLB Mann Judd tax partner Peter Bembrick.
“Make sure that the contribution is sent to the superannuation fund well before 30 June because it is dated from when the fund receives it, not when it is sent,” he says.
From July 1, the annual limit on how much can be contribu…
Read the full article at: http://www.afr.com/personal-finance/tax/if-your-tax-adviser-isnt-doing-this-fire-them-20170407-gvfrpl