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Colin Lewis

This super catch-up contribution can help you avoid a big tax bill

It’s one of about eight key retirement saving opportunities – but don’t leave it to June 30.

Many are struggling with cost-of-living pressures but if you’re fortunate to have surplus funds or cash flow, you should consider topping up your superannuation – after reducing your mortgage – as it’s the most tax-effective structure to have your money in.

Now is a good time to take stock of where you’re at financially and plan for the next six months to take advantage of the super opportunities available to you – don’t leave it to June 30.

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Colin Lewis is head of strategic advice at Fitzpatricks Advice Partners.

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    Original URL: https://www.afr.com/wealth/personal-finance/this-super-catch-up-contribution-can-help-you-avoid-a-big-tax-bill-20240102-p5euoz