With changes to marginal tax rate thresholds and rates, there may be increased benefits in maximising tax-deductible expenses and strategies before the end of the financial year. The Bongiorno Group’s Director Sarah Thorburn and Financial Advisor Jessica Weaver discuss a range of super-related strategies, including assessing available caps and potential tax implications, such as Division 293 tax for high earners.

Contributing to a spouse's super can be beneficial, they say, especially if one spouse has maxed out their contributions cap. Individuals earning under a certain threshold may be eligible for government co-contributions to their super, providing an opportunity to boost super savings with additional funds from the government. 

The Money Doctors is proudly brought to you by leading financial services organisation the Bongiorno Group, the preferred tax and accounting partner for the Australian Medical Association Victoria and the Australian Dental Association Victorian Branch. 

For more information, please call 03 9863 3111 or visit https://bongiorno.com.au/ 

 This general advice has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of this advice before acting on it. If this general advice relates to acquiring a financial product, you should obtain a Product disclosure Statement before deciding to acquire the product.