With only three weeks until the end of the financial year, now is the time to ensure that you don’t miss out on unused financial planning opportunities. These are our four top tips.

1. Free money !! OK, the actual name for this is the “Government Co- Contribution Scheme.” If you qualify, the government pays up to $500 into your super fund if you contribute into your own fund.  Please call the office to discuss if you are eligible and what you need to do.
   
   
2. Maximise concessional contributions.  For those that are eligible, this is usually a high priority as we get a biggest tax bang for our buck. Recent budget changes are likely to reduce the amount that can go in after July 2017, so it is even more important to take the opportunity to maximise this year. Do you want to pay yourself or pay the ATO?
   
   
3. Income protection. Don’t glaze over. Your ability to earn an income is usually your biggest asset and is worth much more than your house. If you are relying on earning an income to meet lifestyle expenses then you need it. Full stop. And if we can get it  in force and paid before 30^th June, you can claim the annual premium this year. Instant 100% deduction. Of course it is usually good planning to bring forward other business costs and pay for them in June.
   
   
4. Get organised. Always a good idea. Ensure your paperwork or bookkeeping is up to date. Discuss taxation planning with your accountant and review the strategic investment or retirement  plan with your Financial Adviser to ensure you are on track.
   

Regards,
Brett