It’s the start of May which means the end of financial year is fast approaching! Tax time can be a stressful time for many people, particularly those that struggle to organise their finances throughout the financial year. Our team at ProInvest are here to help you reach your financial goals. In order to help reduce some stress come end of financial year, we’ve devised some strategies for you to consider.

Two important strategies we’d like you to be mindful of are superannuation and insurance.

Superannuation – it’s something we’re all aware of. It’s our savings for retirement and essentially provides us with the freedom to make choices in our retirement about the way we choose to live. Contribution strategies are super important (pun intended). Here at ProInvest, we can help outline the current cap rules and explain the importance of monitoring contributions to ensure no caps are breached this financial year.

Insurance – did you know that income protection is tax deductible when it’s paid personally? You do now! We recommend implementing an income protection policy now. This is a service we offer at ProInvest, among many others! An income protection policy is a great strategy as you can immediately claim the deduction in a couple of months’ time, come 30 June.

The end of financial year can certainly be stressful for some, but it doesn’t have to be with wealth creation and wealth protection strategies like the ones discussed above!

If you’d like a helping hand with either of these strategies, contact us on (03) 9428 0041 to book a consultation with one of our professionals. For information on the other services we provide, visit the following link: https://www.proinvest.com.au/pages/financial_services