Methods to help retired people save tax this financial year

How to maximise your tax cost savings

To qualify for the partner contribution tax offset of $540, all you need to do is make a $3000 non-concessional contribution on their behalf. If you have more than one fund, all contributions made to all of your funds are added together and counted towards contribution caps. Because I’m under my contribution limitations, would making a $3,000 non-concessional (after-tax) contribution into its high-growth portion be a tax-effective method to invest for him?

To qualify for the spouse contribution tax offset of $540, all you need to do is make a $3000 non-concessional contribution on their behalf. To make contributions to superannuation and to utilize these caps, your fund should receive your contributions by 30 June. If you have more than one fund, all contributions made to all of your funds are added together and counted towards contribution caps. In addition to the concessional contributions mentioned above, you also have the choice of making non-concessional contributions – if you have the funds available. Because I’m under my contribution limitations, would making a $3,000 non-concessional (after-tax) contribution into its high-growth portion be a tax-effective way to invest for him?

Kingsman | Financial Advisor

Kingsman a 35-year-old financial advisor from London, UK, epitomizes the blend of analytical prowess and personable guidance. With a decade of experience in the financial sector, Kingsman has cultivated a reputation for his strategic approach to wealth management and investment advising. His journey began at the University of Oxford, where he graduated with honours in Economics, a discipline that fueled his fascination with the financial markets and their intricacies.

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