Listen to This Before Lodging Your Tax Return 2024

Superannuation provides a valuable opportunity to claim a tax deduction on contributions up to a $27,500 cap per annum. To take advantage of this benefit, it’s essential that contributions reach the fund by 30 June. This applies to employer contributions, including those made through your own company if you’re self-employed. Contributions via SuperStream, BPay, or Direct Credit EFT should be made well before this date to ensure they are received by the last working day of the financial year, which is 28 June this year. Employers need to note that SuperStream contributions can take up to 10 days to be processed. Understanding the composition of this $27,500 cap, including employer contributions, salary sacrifice, and personal contributions, is key to maximising your tax deduction while avoiding excess contributions.

Five Steps to Mentally Prepare for Retirement

Fostering social connections in retirement is crucial for maintaining a fulfilling lifestyle, as it encourages community engagement, lifelong learning, and meaningful relationships, ensuring a vibrant and rewarding post-career phase. Listen in below, as Jason converses with Macca on 4CA Cairns. 1. Gradual Departure From Work  2. Advance Financial Planning  3. Make Big Retirement decisions early  4….