Posts Tagged "individuals"

  • 2016 Tax Planning for Personal & Families

    Posted on June 1st, 2016 by WLF

    The end of the 2015/16 financial year is almost upon us, so here are 13 things to do before 30 June to help you minimise your tax!

    1. Superannuation contributions
    Individuals might be able to make tax-deductible personal contributions to superannuation to reduce their taxable income. Superannuation contributions are limited to $30,000 per year for persons under 50 as at 30/6/15, and $35,000 for persons’ age 50 to 75. Any contributions in excess of these limits can be taxed at a rate of up to 49%, plus an excess contribution charge.

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