With 30 June fast approaching, now is the ideal time to review your tax and super position before the end of the financial year.
A little planning before EOFY can help reduce tax, maximise deductions, grow your super, and avoid last-minute surprises.
Tax Planning Checklist Before 30 June 2026
Review deductible expenses
Consider bringing forward deductible expenses before 30 June, including:
- Work-related expenses
- Repairs and maintenance
- Office supplies and stationery
- Insurance premiums
- Professional subscriptions
Write off bad debts
Business owners should review outstanding debts and write off unrecoverable bad debts before 30 June where appropriate.
Review asset purchases
Eligible small businesses with turnover under $10 million may be able to immediately deduct assets under $20,000 acquired from 1 July 2025 and ready for use by 30 June 2026.
Check capital gains and losses
If you have sold investments or property this year, review capital gains and consider whether capital losses can be used to offset gains.
Be cautious of wash sales, which are not permitted.
Review trust distributions and company loans
Trustees should ensure trust resolutions are completed before 30 June.
If you have company loans or Division 7A obligations, review repayment and documentation requirements before year-end.
Super Planning Checklist
Check contribution caps
Before making extra super contributions, review how much you have already contributed this financial year.
Make personal deductible contributions
You may be able to make a personal super contribution and claim a tax deduction.
Remember to lodge your Notice of Intent with your fund before lodging your tax return.
Use unused concessional caps
Unused concessional contribution caps may be available under carry-forward rules if your total super balance is below eligibility thresholds.
Watch for Division 293 tax
Higher income earners with income plus concessional contributions exceeding $250,000 may be liable for additional tax on super contributions.
Read more about this on the
ATO Division 293 page
Review pension minimums
If you are drawing an account-based pension, ensure minimum pension payments are met before 30 June.
EOFY planning
EOFY planning opportunities are time sensitive. Reviewing your tax and super position now can help ensure you make the most of available deductions, concessions, and contribution strategies before 30 June 2026.
