Financial Year End

The 2015/16 Federal Budget contained relatively few surprises, with a number of key announcements made in the previous weeks. These include a suite of measures to support small business, a family support package with a focus on child care, and reforms to the age pension assets test.

There are also a number of tax incentives for small businesses that may suggest delaying some expenditure until the 2015/16 financial year.

1. How much can you contribute to super and what’s your strategy
2. Remember, superannuation rules could change
3. Consider gearing strategies and protected loans
4. Manage capital gains and losses
5. Prepay interest on investment loans
6. Review your insurance premiums and pre-pay
7. Philanthropic options
8. Timing is everything

The end of the financial year is rapidly approaching. Some of these strategies take time to implement. While proposed changes from the Federal budget are still being debated and analysed, it is important to remember that most announcements are still at proposal stage and have not yet come into effect.

Contact us to discuss how we can work together with you and your tax accountant to be better prepared for the end of the 2014/15 financial year.