If eligible, people should make sure they get their super contribution in before 30 June this year - there are not too many other strategies that deliver up to a 150 per cent guaranteed return. This is particularly important because as part of the recent Federal Budget, the Government have announced

a proposal for the matching rate and maximum co-contribution to be 'temporarily reduced' from 1 July 2009.

5. Crystallise capital losses

Where appropriate, people who have realised a capital gain during the current financial year could consider selling other assets at a loss. This helps reduce the overall tax liability as crystallised capital losses can be used to offset realised capital gains occurring in the same financial year.

6. Defer income

With legislated tax cuts applying from 1 July 2009, certain income thresholds increasing and tax rates reducing, some people could consider deferring the receipt of income until the new financial year, for example timing the maturity of term deposits.

7. Pre-pay expenses

Where possible, people should look at bringing forward any deductible expenses. Bringing forward any possible tax deductions is particularly useful for people who may be going down a tax bracket next financial year.

8. Interest expenses

Even if the value of geared investments has fallen, interest still needs to be paid. The good news is that it remains a tax-deductible expense, where it has been properly incurred in producing assessable income for a taxpayer. By pre paying interest expenses the tax deduction can be brought forward

into the current financial year.

9. Income splitting

Income splitting is one of the easiest and most effective ways for couples to pay less tax on their investments. In this strategy, investments are either held evenly, or put in the name of the spouse who earns the least. This can put a dent on a person's tax bill as income and capital gains on the investments

are taxed at the spouse's lower marginal tax rate.

10. Insurance

Now might be the time for people to review their insurance cover. Some insurance premiums, such as income protection, are tax deductible. People could also think about holding insurance, such as life insurance, through their super as premiums are tax deductible, reducing the after-tax cost of the

cover.

The question, "How do I secure my financial future tax effectively?" has many answers. Each and every one of them can add up to some real savings.

Note: Any advice given is general only and has not taken into account your objectives, financial situation or needs. Because of this, before acting on any advice, you should consult a financial planner to consider how appropriate the advice is to your objectives, financial situation and needs.