The end of the financial year is approaching fast and the window for meaningful tax planning closes on 30 June. Once that date passes, your options are dramatically limited.
Here are ten moves every Australian taxpayer and business owner should consider before EOFY.
1. Maximise your super contributions
The concessional contribution cap for 2025/26 is $30,000. If you have not hit your cap, making a personal deductible contribution before 30 June could save you thousands, because contributions are generally taxed at 15% inside super rather than at your marginal rate. If you have unused cap from the previous five years and your total super balance was under $500,000 on 30 June last year, the carry-forward rules let you contribute even more. Make sure the money reaches your fund before 30 June and lodge a notice of intent to claim the deduction.
2. Review your investment property deductions
Make sure you have claimed everything you are entitled to: depreciation, loan interest, repairs and maintenance, rates, insurance and property management fees. An up-to-date depreciation schedule from a quantity surveyor often uncovers deductions owners did not know they could claim.
3. Prepay deductible expenses
Prepaying expenses such as professional subscriptions, insurance premiums and interest on investment loans before 30 June can bring those deductions forward into the current year. It only makes sense if the cash flow suits you, so weigh it up first.
4. Consider deferring income
If you control when you invoice or receive income, and you expect to be on a similar or lower marginal rate next year, pushing some income into the new financial year can reduce this year tax bill. This is more relevant for businesses and sole traders than for employees.
5. Review your capital gains and losses
If you have realised a capital gain this year, check whether you hold investments sitting at a loss. Selling them before 30 June can crystallise a capital loss to offset the gain. Remember the 50% CGT discount applies to assets held more than 12 months, so timing a sale by even a few days can matter.
6. Write off genuine bad debts
If your business is owed money that will never be paid, formally writing it off as a bad debt before 30 June reduces your assessable income. The debt must be genuinely unrecoverable and the decision documented before year end.
7. Review asset purchases and the write-off rules
If you have been planning to buy equipment or tools for your business, confirm the current instant asset write-off threshold and eligibility before you spend. The rules change regularly, so buying at the right time means you claim correctly.
8. Make your trust distribution resolutions
If you operate through a discretionary trust, trustee resolutions on how income will be distributed for the year generally need to be made before 30 June. Getting this wrong can have real tax consequences, so do not leave it to the last minute.
9. Pay employee and personal super early
Super is only deductible in the year your fund actually receives it, not when you accrue it. Paying any outstanding employee super, and your own contributions, well before 30 June ensures the deduction lands this year. From 1 July 2026, Payday Super makes on-time payment the norm anyway.
10. Get your records in order
The unglamorous one that saves the most. Reconcile your accounts, chase outstanding invoices, take a stocktake if you carry inventory, and make sure your logbook and home-office records are current. The cleaner your records on 1 July, the faster and cheaper your return, and the less likely you are to miss a deduction.
EOFY is the one moment each year where a few deliberate decisions have an outsized effect on what you keep. If you would like a second set of eyes before 30 June, talk to your Nebula advisor: book at nebulaaccounting.au or call 0433 822 227. General information only, not personal tax advice.