Making some clever choices before tax time can help bring down your bill.Credit:Getty
If you don’t have this,you need it. Forget your house;your income is your most valuable asset. What would you do if sickness or injury meant you weren’t able to earn it?
Getting a year ahead (or even more if you can afford it) on your premiums also neatly brings down for this expensive year,your assessable income by that same amount – so getting your safety sorted today carries double the benefit.
Yes,I know finding extra money today may be a big stretch. But if you can redeployany,the financial advantage could work out well worth it.
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Please don’t forget charity either. Provided one is registered as such,any donations are fully tax-deductible and so many charities,especially in housing,feeding and clothing,could sure use your help.
And remember that from July 1,you will have a tax cut … that you could mobilise to make and save even more money.
Nicole Pedersen-McKinnon is the author ofHow to Get Mortgage-Free Like Me,available atwww.nicolessmartmoney.com.Follow Nicole onFacebook,Twitter orInstagram.