Turning a $78,000 tax bill into a retirement win!
Client Profile
The Challenge
A couple in their late 50s and early 60s came to us after selling an investment property. They were staring down a substantial Capital Gains Tax liability with little idea of how to manage it — and even less certainty about whether they were actually on track for retirement.
Their questions were urgent and familiar:
How do we minimise this tax hit?
Should we buy another investment property?
Are we actually on track for retirement?
Our Strategy
We built a comprehensive plan centred around strategic superannuation contributions and restructuring:
Utilised carry-forward concessional caps to make large, tax-deductible super contributions
Commenced a pension for him to generate tax-free income — used to pay down the mortgage
Maximised her GESB West State Super via substantial salary sacrifice arrangements
Streamlined their insurance, saving thousands in unnecessary premiums
Updated their estate planning to reflect their current wishes
The Results
“We’re no longer worried about our retirement savings. We’re taking holidays and making home improvements without feeling financially constrained.”
Is This Relevant To You?
This approach may suit you if you are:
Facing CGT from a property or asset sale
In your 50s or early 60s with unused concessional contribution caps
A member of GESB or another public sector super scheme
Approaching retirement with a mortgage still in place
Wanting to accelerate retirement savings in your final working years
Client names have been changed to protect their privacy.