Luke on 2CC - Should I contribute to super before 30 June?

[@tomiasthexder7673]

Thanks for the info. Great tip on holding the home loan funds in an offset account for the entire year before lodging in late June. Guaranteed 6.3% return on the money whilst still getting the concessional contribution tax deduction.

[@thestrategystacker]

Glad you like it. Two uses for the same cash.

[@LantanaLodge]

The income generated (I.e. interest offset) is also not taxable if held in offset, where it would be in super as well. The trade off is market upside, but once the tax benefits are allowed for , it's a pretty good strategy.

[@hariacharya1501]

Hi Luke, Could you provide a video explaining how to use NAB Equity Builder for tax advantages?

[@thestrategystacker]

We can try and talk about the broader strategy. I don’t like referring to individual products because it creates an unconscious bias but more than happy to talk about the philosophy of that type of investment program.

[@Greolt]

Notice of intent does not need to be lodged by June 30. It must be lodged and acknowledged before lodging the relevant tax return. I had my accountant prepare my returns first so that I knew exactly how much to make concessional to suit my particular requirements. Then lodged notice of intent for that amount that suited me.

[@thestrategystacker]

The NOI has to go into the fund prior to you lodging your return. It should also go in before the funds return is completed. It never needed to be lodged before June, the funds have to be cleared in the super fund before June thats about it. If you do it all at a similar time it just eliminates the chance you forget the NOI.

[@Greolt]

My point is that there may be reasons to first ascertain exactly how much of that non concessional to transfer to concessional to best advantage. So waiting until returns have been prepared can sometimes be to your advantage. It can be good to know that NOI can be delayed beyond June 30 when it suits.