How to save on tax before EOFY
EOFY tax planning works best when it supports decisions you would make anyway. Records, timing, super contributions, and deductions should all be handled before the deadline rush.
End-of-financial-year tax planning has a quiet superpower: it forces you to look at your money in one place. Even if the savings are modest, the discipline of reviewing income, deductions, super, and investments before 30 June often pays off well beyond the tax refund.
The most effective EOFY plans are not last-minute panics. They start in autumn, line up the documents you actually need, and use the few weeks before June to act on choices you would make anyway.
We use this article to walk Australians through how we approach EOFY with our clients, what we prioritise, and the traps we work hardest to avoid.
Why it matters in Australia
Australian taxpayers may consider deductible expenses, work-related records, super contributions, investment income, capital gains, business timing, and charitable donations as part of their EOFY plan.
Rules differ noticeably by employment, business structure, and investment type. Salary earners, sole traders, and trust beneficiaries each have different levers, deadlines, and evidence requirements.
Super in particular has cut-off dates earlier than 30 June because funds need time to process contributions. Last-minute plans can miss the window even when the strategy is sound.
What to work through
Get organised first, then act. Most of the EOFY benefit comes from doing the right things in the right order, not from finding obscure loopholes.
- Organise receipts, logbooks, statements, and income records before June ends.
- Check whether extra super contributions are appropriate and within current caps.
- Review capital gains and losses with an adviser before selling investments.
- Prepay or bring forward deductible expenses only when they genuinely fit the rules and your cash flow.
Common traps
EOFY decisions are made under time pressure. These are the traps we see most often.
- Spending a dollar only to save part of a dollar in tax is not automatically smart.
- Claims without records create problems if the Australian Taxation Office reviews your return.
- Last-minute super contributions can miss fund processing deadlines.
Next steps
Set up next year's tax to be calmer than this one. A small system saves hours in late June.
- Ask your accountant what they need before EOFY.
- Check super contribution cut-off dates with your fund.
- Create a tax folder for the new financial year now.