Bring forward deductions into this financial year.
Prepay interest on rental properties & other investments.
Prepay 12 months Income Protection Insurance & any other expenses such as subscriptions.
Salary Sacrifice to super or make personal deductible contributions.
Consider Transition to Retirement Income Streams if you are over 55.
Defer income into 2021 particularly if your income may be lower next year.
If you’re not already, look at investing tax effectively to create an asset for the future while saving tax now.
Gearing into the share market is possible (not only real estate) and works well in relation to franking credits.
Capital Gains - consider crystalising unrealised losses to offset current year capital gains / Defer Asset Sales until next financial year.
Should you need further advice or need to discuss your particular requirements, please contact us, Infinite Accounting Solutions on 02 9899 4730 or via the contact page at www.ias-ca.com.au