EOFY super planning and tax strategies

As the end of the financial year approaches, SMSF professionals are gearing up to navigate the complexities of superannuation contributions and tax planning. In this episode of the SMSF Adviser Show, industry stalwart Liam Shorte, director of Sonas Wealth, explains the essential areas that advisers and accountants should address in the next three weeks to optimise super strategies for their clients.

Managing clients’ total super balance (TSB) effectively is right at the top of the list, with Shorte explaining the importance of having accurate information and why it’s not always a good idea to maximise unused contribution caps if there are any uncertainties around the exact figures.

Listen as they discuss:

• How to access accurate superannuation data through the ATO.
• How to ensure that 2024 financials are reported promptly.
• Contribution strategies for different age cohorts and how they can benefit future planning.
• The increasing problem of debt for those approaching 60.
• Extension of tax planning to age 75.