EOFY Tax Planning Checklist 2026: 15 Things to Do Before June 30

13 March 2026|8 min read

Don't wait until July to think about tax. Here are 15 actionable strategies to reduce your 2025-26 tax bill before June 30, from super contributions to prepaying expenses and timing capital gains.

Why March–June is tax planning season

Most Australians think about tax AFTER the financial year ends — when they're lodging their return and it's too late to do anything. Smart tax planning happens between March and June, when you still have time to take action. The difference between reactive and proactive tax planning can be thousands of dollars. A typical worker earning $100,000 can often save $2,000-$5,000 by making the right moves before June 30. Higher earners and business owners can save significantly more. This checklist covers 15 actionable strategies, roughly ordered from simplest to most complex. Not every strategy applies to everyone — focus on the ones relevant to your situation.

1. Maximise super contributions (biggest single saving)

The single most effective tax strategy for most Australians. Every dollar of concessional super contribution reduces your taxable income by $1 and is taxed at just 15% inside super. **Action:** Check your year-to-date contributions via myGov → ATO → Super. Calculate how much cap space you have remaining ($30,000 minus employer SG and salary sacrifice). Make a personal deductible contribution before June 30. **Saving example:** Earning $120,000 and contributing an extra $10,000 saves $2,250 in tax (32.5% + 2% Medicare minus 15% super tax = 19.5% net saving, plus you save the 2% Medicare levy). **Don't forget carry-forward:** If your total super is under $500,000 and you have unused cap from prior years, you can contribute much more than $30,000. Check the carry-forward balance on myGov. **Deadline:** Contributions must HIT your super fund by June 30. Allow 3-5 business days for bank transfers.

2. Prepay deductible expenses for next year

You can claim a tax deduction this year for expenses that relate to the next 12 months. This is called prepayment and it's one of the most underused strategies. **Commonly prepaid expenses:** - Income protection insurance premiums - Professional memberships and subscriptions - Union fees - Interest on investment loans (up to 12 months ahead) - Accounting software subscriptions **How it works:** If your income protection insurance costs $2,000/year and is due in August, pay it before June 30 and claim the deduction this year. Next year, you won't have that deduction — but if your income is expected to be lower next year, this makes sense. **Rule:** Prepayments must be for 12 months or less and the service period must end before June 30 of the following year.

3. Buy work-related equipment before June 30

If you need equipment for work, buying before June 30 lets you claim the deduction this financial year. **Items under $300:** Instant write-off — full deduction in the year of purchase for items costing $300 or less that are primarily for work use. **Items over $300:** Depreciated over the asset's effective life. But even so, you get the first year's depreciation by buying before June 30 vs waiting until July. **Common work-related purchases:** - Laptop or computer ($800-$2,500) - Monitor, keyboard, mouse - Work-specific software - Tools of trade (tradies) - Uniforms and protective clothing - Professional reference books **Work from home:** If you work from home, you can claim a portion of your desk, chair, and tech equipment. Use the ATO's fixed-rate method (67 cents per hour worked from home) or the actual cost method. **Warning:** Don't buy things you don't need just for the tax deduction. A $1,000 purchase at a 32.5% tax rate saves you $325 in tax — you're still $675 out of pocket.

4. Make a voluntary HECS/HELP repayment before indexation

HECS/HELP debts are indexed on June 1 each year based on CPI. In 2025-26, the indexation rate is capped at the lower of CPI or the Wage Price Index (WPI) — expected to be around 3.2%. **Strategy:** Make a voluntary repayment BEFORE June 1 to reduce the balance that indexation applies to. On a $30,000 debt, 3.2% indexation adds $960. If you pay off $10,000 before June 1, indexation only applies to $20,000 ($640) — saving you $320. **Should you?** It depends on your interest rate comparison: - If your savings are earning 5% in a high-interest account, the guaranteed 3.2% indexation saving is lower — you might be better off keeping the cash - If your savings earn less than the indexation rate, pay down the HECS - If you have other debts at higher rates, pay those first **Note:** Voluntary HECS repayments are NOT tax-deductible. You don't get a tax benefit — you just reduce the balance before indexation. **Deadline:** Before June 1 (not June 30). Indexation is applied on June 1.

5. Harvest capital losses to offset gains

If you've sold shares, property, or other CGT assets at a profit this year, you can sell loss-making investments before June 30 to offset the gains. **How it works:** - Capital gains and capital losses are netted against each other - Losses must be realised (you must actually sell) before June 30 - Unused capital losses carry forward indefinitely **Example:** You sold shares for a $15,000 capital gain. You hold another stock that's down $8,000. Selling the losing stock before June 30 reduces your net capital gain to $7,000 — saving approximately $1,500-$2,000 in tax (depending on your rate and the CGT discount). **Watch out for the 'wash sale' rule:** If you sell shares to crystallise a loss and buy them back shortly after, the ATO may deny the loss. There's no specific buyback period rule, but the ATO has flagged 30 days as a guideline. If you want to maintain exposure to the same asset, consider buying a similar (but not identical) ETF. **CGT discount:** If you've held the asset for more than 12 months, only 50% of the gain is taxable. Make sure you're applying this correctly.

6-10. More deduction strategies

**6. Charitable donations** Donations of $2 or more to deductible gift recipients (DGRs) are tax-deductible. If you were going to donate to charity anyway, doing it before June 30 gives you the deduction this year. Keep receipts. **7. Private health insurance** If your income is over $93,000 (single) or $186,000 (family), you pay the Medicare Levy Surcharge (1-1.5%) unless you hold private hospital cover. Taking out a basic hospital policy before June 30 can save you more than the premium costs. **8. Review your private health insurance rebate tier** The government rebate on PHI premiums reduces as your income increases. If your income has changed, your rebate tier may have shifted. Update your insurer to avoid a surprise adjustment at tax time. **9. Claim working-from-home expenses** For 2025-26, you can use the fixed-rate method (67 cents per hour) or the actual cost method. If you work from home regularly, this can add $1,500-$3,000 to your deductions. You need a record of hours worked from home — a timesheet, roster, or diary will do. **10. Pay your income protection insurance** Premiums for income protection insurance held outside of super are fully tax-deductible. If your premium is due soon, paying before June 30 secures this year's deduction.

11-15. Advanced strategies

**11. Spouse super contribution (tax offset)** If your spouse earns less than $40,000, you can contribute up to $3,000 to their super and receive a tax offset of up to $540. Your spouse's income must be under $37,000 for the full offset. **12. Government super co-contribution** If your income is under $60,400, making a $1,000 after-tax (non-concessional) super contribution triggers a government co-contribution of up to $500. Free money — don't leave it on the table. **13. Instant asset write-off (small business)** If you run a small business (turnover under $10 million), you can immediately deduct the full cost of eligible assets costing less than $20,000 each. Need a new work vehicle, tools, or equipment? Buy before June 30. **14. Defer income (if possible)** If you have control over when you receive income (contractors, freelancers, business owners), deferring an invoice from June to July shifts the income to next financial year. This is especially valuable if you expect to be in a lower tax bracket next year. **15. Review your investment structure** Are your investments held in the most tax-effective structure? Negatively geared investments should generally be in the name of the higher-income earner. Positively geared investments may be better in a lower earner's name or in a trust. A financial adviser can model the optimal structure. **Action:** Don't try to do all 15 at once. Pick the 3-4 strategies that apply to you and have the biggest dollar impact. Start with super contributions (#1) — it's almost always the biggest win.