Tax time can feel stressful, but there are simple things you can do to make filing your return feel less daunting
when the time comes around. Here are some of the steps you can take all year round to help you prepare for tax
time.

Keep track of your documents

Use a clear filing system to store important salary, super or investment documents throughout the year, this will
make them easier to locate when you need them.

Make a savings plan

Tax time can be a great prompt to review your finances more generally. How much of last year’s salary were you
able to save? Take some time to implement a savings plan that works for you and your family.

Get advice

Financial management can be daunting, but there is always someone who can help. Make sure you seek help
from a professional adviser when you need it as it could save you money down the line.

Protect your income

Not only can income protection insurance help you cover your costs if you were unable to work due to sickness
or injury, the premiums may be claimed as a tax deduction to the extent the cover provides benefits designed to
replace your income.

Consider the Private health insurance rebate

Your eligibility to this rebate is income tested, meaning that if your income is higher than your rebate entitlement
may be reduced or removed. Many people may claim this rebate as a reduction in the premiums they pay to the
insurer or alternatively it can be a refundable tax offset.

Self-contribute to your super

By adding personal contributions to your super within the allowable limits, not only do you save a little more for
later but they may reduce your overall tax bill.

If you want to review your finances prior to preparing your tax return, get in touch with our Oran Park office by calling (02) 9188 1547 or email admin@rpwealthmanagement.com.au

 

 

 

The material shown in this article is for general information purposes only. It is not intended to be, nor should it be read as specific personal investment or risk advice.
Before acting on any of the information contained in this article you should obtain special advice from a specialist investment or risk professional, which is appropriate to your specific investment or risk needs, objectives and financial situation.
Whilst all care is taken in the preparation of this material, no warranty is given with respect to the information provided, and accordingly no responsibility for errors or omissions, including responsibility to any person by reason of negligence is accepted by RP Wealth Management.

Ronald Pratap

Principal Financial Planner at RP Wealth Management | Financial Planning l SMSF I Insurance l Property Advisory. Our purpose is to provide our clients with sound advice and direction to assist with their financial affairs and help them make the best choices in achieving what is important to them.

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What Clients Are Saying About Our Financial Planning Services
Ron and the team from RP Wealth Management help my wife and I review our super and insurance and where he felt we could improve he proved his recommendation and was honest about part that where good to leave. Thank you
Daniel Simone
Daniel Simone
21:23 12 Nov 20
Ron is a very knowledgeable and reliable advisor but more importantly caring for his clients. I have personally used his services and recommended many of my family and friends!! Thank you for all your MARVELLOUS help;)
Football Star Academy
Football Star Academy
11:52 10 Jun 20
Ronald is very informative and professional and I have no hesitation to recommend him highly.
Chris Bakalian
Chris Bakalian
04:30 02 Jun 20
Ron and the team are extremely professional and knowledgeable, complimented by exceptional customer service.
Michael Ferella
Michael Ferella
04:11 27 May 20
Ron was able assist my husband with all the necessary information from start to finish with his plan. We found Ron extremely easy to get along with and communication was outstanding. As a family we can high recommend Ron to all.
Chloe Farnell
Chloe Farnell
04:01 02 Apr 20
Ron has been amazing for me and truly took the time to understand what my real needs and wants were to custom tailor not only my super and retirement plans but the options to diverse my investing to meet short term goals.He’s very relatable and down to earth so the whole process is enjoyable. Looking forward to working together in the many years ahead.
Shannon McDonnell
Shannon McDonnell
00:29 20 Feb 20
Ron is honest, intelligent, trustworthy, and hardworking adviser. Always goes above and beyond to ensure he gets the best outcome for his clients. Highly recommended!
Petra Novakova
Petra Novakova
12:25 06 Feb 20
Ron is amazing!! He is so easy to talk to and explains things so you can understand everything. If we had any questions about anything he was always there to answer our questions. Definitely recommend him.
Jessica Tree
Jessica Tree
09:05 11 Oct 19
Ronald is a great person to deal with...explains everything very clearly and goes through all your options...looks out only for his client not any personal gain..I feel confidence that my wealth management and finances are handled correctly with his guidance
Jordan Mijalkov
Jordan Mijalkov
07:57 24 Sep 19
Insurance within super and the whole superannuation mindfield is made simple when you enage with people who know their stuff.I highly recommend Ronald, he is flexible, committed and focussed on helping you to understand and have confidence in this arena.
Sandra Bartlett
Sandra Bartlett
04:50 29 May 19
Ron and his team have a wealth of knowledge in the industry and have referred relatives and clients, whom have been satisfied with his service to ensure that they are adequately protected.
Daniel Caldwell
Daniel Caldwell
22:24 07 May 19
I have referred many clients and used Ronald's financial planning services personally and couldn't recommend him highly enough. Very professional and knowledgeable in the financial services industry. I would not hesitate for a second to recommend Ronald’s services to anybody within my network.
Bradley Durrant
Bradley Durrant
03:22 03 May 19
Have had a great experience, have felt all meetings and communication to be very informative and honest in areas I was uncertain about.
Josh Saumatua
Josh Saumatua
08:34 22 Jul 18
Very knowledgeable and informative. Happy to answer all questions and always responds to my calls/emails. Takes control which makes for a simple and seamless process.
D Saumatua
D Saumatua
12:24 20 Jul 18
Ronald is so easy to deal with and helps you every step of the way to make it so efficient and quick to fill out paperwok. He is very professional and makes it all happen so quickly. He always picks up the call or gets back to you, What else can you ask for. Great guy and service
Mibu Medispa
Mibu Medispa
08:08 16 Jul 18
Very professional and consistent in his work with truckloads of knowledge in his industry. He helped me with my life insurance and did a fantastic job from start to finish. Walking me through the entire process and always following me up. I would not hesitate for a second to recommend Ronald’s services to anyone. Great guy. Great professional. Great service.
Caterina Romeo
Caterina Romeo
01:07 18 Apr 18
I met Ronald in a professional capacity, and his willingness to share his insights and his enthusiasm for the work that he does clearly shines through. I'd highly recommend connecting with him if you're looking for an adviser who holds great integrity in the way they support their clients.
Shannyn Merlo
Shannyn Merlo
08:32 23 Feb 18
Great service and very helpful
Dragan Jelic
Dragan Jelic
01:25 27 Oct 17
Ronald is great communicator and very knowledgable with his financial advise. He helped my wife and I structure a better protection plan covering life insurance, trauma cover and income protection. Easy to discuss any questions we had and generally very helpful. I highly recommend talking with Ron!
James Newman
James Newman
03:38 25 Sep 17
Ronald is a really easy going guy to deal with. He will go above and beyond to ensure he finds out all the details and gets you the best cover for your circumstances. Ronald made the process of getting Trauma Insurance and Life Insurance very easy - much easier than I thought and it was surprisingly cheaper than I thought it would be too. I really recommend you see RP Wealth Management.
Hayley Pieplenbosch
Hayley Pieplenbosch
05:55 28 Jul 17
I needed general financial advice and he delivered with the lingo I easily understood. Friendly guy and always approachable. Would highly recommend him to anyone!
Gorgi Serovski
Gorgi Serovski
13:09 22 May 17
A hard working and diligent professional, Ronald certainly places his clients needs first in all situations. Keep up the good work!
Shaun Pereira
Shaun Pereira
00:14 19 May 17
My Wife and I have known Ron for many years. He has always put our needs first and has always given 110% with giving us the best advice,solutions and above all exceptional results with our super and investments! Highly recommend Ron to anyone in need of financial guidance."I found Ronald to be very knowledgeable about all aspect of finance and being very helpful in overseeing my finances and making sure that I will live comfortably for quite a few years to come. his friendly nature comes from deep down and his clients are treated like family. I will not be afraid of recommending Ronald to all my relatives and friends."Thanks mate. Really appreciate it.
Deniz Sertlioglu
Deniz Sertlioglu
03:09 03 Jan 17
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