#EveryoneNeedsaPlan to Maximise Tax-Deductible Super Contributions in the 2022 FY

The federal government provides up to $27,500 tax deduction for contributions made to your super each year, but this also includes your employer-sponsored superannuation contributions which is about 10% of your gross income.

To ensure you maximise your tax-deductible contribution for the 2022 FY make sure that the contribution is completed and cleared funds are in the superannuation account before 30 June, 2022.  It is recommended that the contributions being made are completed and paid at least one week before 30 June, 2022.  Be careful not to exceed the limit else there may be penalties.

It is recommended that you seek advice from a suitably qualified superannuation specialist before making a decision regarding tax-deductible contributions to your super account.

GDM is a Master Financial Planner with nearly 30 years experience in all things financial, including superannuation and Self Managed Super Fund (SMSF), so do not hesitate to contact us and arrange your free initial appointment to discuss your superannuation requirements.