With the end of the financial year fast approaching, it’s a great time to build and protect your wealth in a tax-effective manner.

But you’ll have to take action before 30 June to benefit from the opportunities available this year.

Following are12 strategies with tax advantages for this financial year and beyond. Each of these strategies has the potential to make a significant difference to your financial situation now and in the future.

It pays to be tax smart. No matter what your situation, age or income, Wealthwise financial advisers have the expertise and experience to help you build wealth and reduce your tax bill.

And in the current economic climate, it can be even more important to be tax smart.

Just a little bit of year-end planning can help boost your retirement savings, maximise your Government entitlements and reduce your tax payments.

You should speak to a financial adviser and/or taxation professional before you use any of these strategies; they can assess which year-end strategies suit you best.

Tax strategies to the left: