Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in Money Matters, which aired on Friday 16 June 2023. The topic this week for the show is: Salary sacrifice and super opportunities for the new financial year. The end of financial year is just around the corner and if you haven’t got your super contributions in check the due dates with your provider – some providers are saying they can’t guarantee processing your contribution if you leave it to the end of the month. In this episode however Luke explores opportunities for the new financial year. What are they? How can you use them to help meet your goals?
Key topics covered include:
- What is salary sacrifice?
- How does salary sacrifice work and what’s the tax benefit?
- What is a personal deductible contribution to super?
- Which approach is best for you to boost your super and get a tax outcome?
- Don’t forget about the contribution limit – the amount you can contribute to super and get a tax deduction!
- Offset accounts attached to home loans are also a great place to save money during the year before you make a deductible contribution to super.
- What happens if I’m in a government or defined benefit super scheme? Can I open up another fund to use this strategy? Yes you can!
- Finally, Luke shares his top tips around how to make the most of super opportunities in the new financial year.
Also available on Apple Podcasts and Spotify – ‘The Strategy Stacker – Luke Talks Money’
Do you need help with salary sacrificing or retirement planning?
Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals, including investment, super, retirement and more! Make an appointment to confidentially discuss your goals. Call Envision Financial Services on 6260 4749. You can use the contact us form to make an appointment, for a confidential discussion about your situation.
Luke will return to 2CC to talk about other ‘Money Matters’ next week. You can also catch up with ‘The Strategy Stacker – Luke Talks Money’ podcast at a time that suits you.
We look forward to your company again and Smart Money Strategy is out now.
