Tax Savings: A Client Scenario

Welcome back to another episode of the 360 Mother Matter Podcast! We have recently spoken about superannuation, death taxes, and some changes to superannuation rules. Today we put this all together in a scenario for a client.

In this particular scenario, our client is 65 and still working. What we’re able to do for this client was convert his entire superannuation to ‘tax-free’ as well as reduce his income tax by $10,000 over the course of the financial year!

So if you are in a similar situation or someone you know is– be sure to stick around or share the episode with them and find out how our client took advantage of some opportunities that are available to help reduce both the tax that he will pay, as well as ensure that his beneficiaries don’t pay any tax when the money is eventually passed to them.

If you haven’t yet, we highly recommend checking out our previous episodes about Superannuation to get a better idea of what we’re talking about for this client scenario!

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This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis & Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorised representatives and credit representatives of AMP Financial Planning – AFSL 232706

Episode Highlights:

• Gaining unrestricted access to superannuation

• Taking advantage of tax opportunities

• Reducing assessable income

• Planning out the strategies using current legal tax laws

• Avoiding death taxes for beneficiaries

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