With one week remaining before 30 June, the window for personal tax planning is narrowing – but it has not closed.

For individuals who have already been thinking about their financial position, there are still several legitimate decisions worth reviewing before year-end.

EOFY tax planning is not about creating deductions for the sake of it. It is about ensuring that decisions you may already have been considering are timed appropriately and align with your broader financial position. That distinction matters.

Here are six EOFY tax planning opportunities worth reviewing before 30 June.

1. Bring forward expenses you were already planning to incur

If there are deductible expenses you already intend to incur before the end of the calendar year, bringing them forward before 30 June may allow you to claim the deduction in the current financial year.

Depending on your circumstances, this may include:

• Professional memberships
• Industry subscriptions
• Income protection insurance premiums
• Self-education costs
• Investment-related expenses

The key consideration is intent. EOFY should not be viewed as a reason to make unnecessary purchases. However, where a legitimate deductible expense is likely to be incurred shortly after year-end, bringing it forward may provide an earlier tax benefit and improved cash flow.

2. Ensure your records are complete, not just your spending

One of the more common issues at tax time is not missing deductions because the expense was never incurred, but because the documentation is incomplete.

Before the end of June, it is worth checking that receipts, invoices, and payment records are in order for any work-related expenses, investment costs, or other deductible items incurred during the year.

This is particularly relevant if you:

• Work from a home office
• Use a personal vehicle for work purposes
• Have incurred study or professional development costs

The Australian Taxation Office’s compliance focus on work-related deductions has been consistent – substantiation matters.

3. Review whether a personal deductible super contribution is appropriate

A personal deductible super contribution may be worth reviewing if you:

• Have had a higher-than-usual income year
• Received a bonus or capital gain
• Want to boost your retirement savings
• Are looking for legitimate EOFY tax planning opportunities

Before acting, there are two important considerations:

1. Contributions need to be received by your super fund before 30 June to count towards this financial year. Processing times matter, so leaving this until the final days of June may create unnecessary risk.
2. To claim a deduction, you must lodge a Notice of Intent to Claim with your super fund. This is a separate step that can easily be overlooked.

Carry-forward concessional contributions may also be available if your super balance is below $500,000 and you have not fully utilised your cap in prior years.

4. Review your investment records and capital gains position

If you own an investment property, shares, or managed funds, the weeks leading up to 30 June are a good time to ensure your records are complete and that no deductible expenses have been overlooked.

More importantly, if you have realised capital gains during the year, consider whether any unrealised losses in your portfolio might be worth crystallising before 30 June to offset them.

The reverse is also worth considering. If you are sitting on an asset with a gain that you intend to sell and it has been held for fewer than 12 months, waiting until July may significantly reduce the tax outcome.

Investment decisions should be driven by your portfolio strategy, not tax timing alone. But where the two align, it is worth being deliberate.

5. Charitable giving – support causes that matter to you

End of financial year planning can be an opportunity to support organisations and causes that align with your personal values.

If you were already considering making a charitable donation, bringing that decision forward before 30 June may allow you to claim the deduction in the current financial year rather than the next.

To be deductible, donations generally need to be made to an eligible Deductible Gift Recipient (DGR) and supported by appropriate records.

6. Check your Medicare Levy Surcharge position

If your income sits above $101,000 (singles) or $202,000 (families) and you do not hold an appropriate level of private hospital cover, you may be liable for the Medicare Levy Surcharge – currently between 1% and 1.5% of your taxable income.

This is not a deduction opportunity; it is a potential cost that can be avoided with the right cover in place. If you are not already holding hospital cover and your income is near or above these thresholds, it is worth checking your position now rather than discovering the exposure when you lodge your return.

If you also run a business

The above focuses on personal tax planning decisions.

If you operate a business – as a sole trader, through a trust, or via a company – there are additional EOFY considerations specific to your business structure, including asset write-offs, superannuation obligations for employees, and prepaid business expenses.

Our EOFY Business Tax Planning Checklist explores these opportunities in more detail.

A note on timing

EOFY planning works best when it forms part of a broader, year-round conversation about your financial position.

If this is the first time you are reviewing some of these areas, it is still worth acting on what remains available before 30 June. However, the greater long-term value often comes from establishing a more structured planning approach for future years.

Need help with EOFY tax planning?

With only a short time remaining before 30 June, now is the time to review your tax position and ensure you have not overlooked any legitimate opportunities.

Whether you’re considering a deductible super contribution, reviewing investment gains and losses, checking your Medicare Levy Surcharge position, or simply wanting confidence that you’re making informed decisions before year-end, professional advice can help.

At LDB, our accountants and tax advisors in Blackburn, Melbourne, can help you review your personal tax position and develop an EOFY strategy tailored to your circumstances.

Call (03) 9875 2900 or contact us online to discuss your EOFY tax planning opportunities before 30 June.

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