EOFY Tax Checklist: 10 Things to Do Before 30 June to Maximise Your Return

Who This EOFY Checklist Is For

Use the table below to identify which checklist items are most relevant to your situation.
 

Who you are	Focus on these checklist items
Employees & salary earners	Items 1, 2, 6, 8, 10
Work-from-home employees	Items 2, 8, 10
Investors & crypto holders	Items 3, 7, 8, 10
Sole traders & freelancers	Items 1, 2, 4, 7, 8, 10
Small business owners	Items 4, 7, 8, 9, 10
Property investors	Items 3, 5, 8, 10
Employers	Items 9, 10

 

Why EOFY Planning Matters (and Why Most People Leave Money Behind)

The Australian tax system operates on self-assessment. The ATO does not prompt you to claim every deduction you are entitled to. MyGov pre-fill data shows your income; it does not show what you could have claimed.

EOFY planning is about understanding what you are already entitled to and taking action before the window closes.
 

Common EOFY Mistakes to Avoid

Knowing what to do is only half the job. These are the most common errors that cost Australians money each year:
 

• Missing super fund processing cut-off dates: the contribution must be received by the fund before 30 June, not just sent
• Relying solely on MyGov pre-fill data, which shows income but does not identify deductions
• Claiming non-deductible expenses or personal costs as work-related
• Failing to keep records for the full year: a four-week WFH diary is no longer accepted
• Treating investment property improvements as repairs and claiming them incorrectly
• Leaving tax appointments until late July or August, when more preparation time is available earlier

 

Checklist Item 1: Review and Top Up Your Super Contributions

Superannuation is one of the most tax-effective tools available to Australian workers and self-employed individuals. The EOFY is the most important deadline in the super calendar, and several strategies must be executed before 30 June to count for the current financial year.
 

Concessional Contribution Cap 2026

The concessional contribution cap for the 2025–2026 financial year is $30,000, increasing to $32,500 for the 2026-27 year. Concessional contributions include employer super guarantee payments, salary sacrifice contributions, and personal deductible contributions. If your total concessional contributions for the year are below this cap, you may be able to make additional contributions before 30 June and claim a personal tax deduction.

The tax benefit can be significant because concessional contributions are generally taxed at 15% within the super fund rather than at your marginal income tax rate. For someone on a marginal tax rate of 30% (or 32% including the Medicare levy), this can result in a tax saving of up to 17 cents for every dollar contributed, subject to the contribution cap. Check the current ATO contribution limits before making additional contributions, as caps are subject to indexation and eligibility rules may apply.
 

Carry-Forward Concessional Contributions

If your total super balance was below $500,000 on 30 June of the previous financial year, you may be able to access unused concessional cap amounts from up to five prior years. Your available carry-forward amount is displayed in your MyGov account under the ATO section.

Check this before making additional contributions. Exceeding your total available cap means excess contributions are taxed at your marginal rate.
 

Notice of Intent to Claim a Deduction: Critical Deadlines

To claim a personal super contribution as a tax deduction, you must lodge a valid Notice of Intent to Claim a Deduction with your super fund before lodging your tax return.

Critically: the contribution must be received and processed by the fund before 30 June. Most super funds have internal cut-off times several business days before the month-end. Check your fund's deadline in early June, do not leave this to the last week.
 

Spouse Super Contribution Tax Offset

If your spouse earns below $40,000 per year, you may be eligible for the spouse contribution tax offset of up to $540. The full offset applies when the receiving spouse earns below $37,000. Because this is a tax offset rather than a deduction, it directly reduces the tax you owe — making it especially valuable and frequently overlooked.
 

Checklist Item 2: Maximise Your Work-Related Deductions

Work-related deductions are the most commonly claimed, and most commonly underclaimed, category on Australian tax returns. The rules depend on your occupation and the records you have kept throughout the year.
 

Home Office Deductions: Fixed Rate vs Actual Cost Method

There are two methods for claiming home office deductions. Understanding the difference lets you choose the one that produces the higher result.
 

	Fixed Rate Method (70c/hr)	Actual Cost Method
Rate	70 cents per hour	Actual costs calculated
Covers	Electricity, gas, phone, internet, stationery, depreciation of small items
Records needed	Full-year hours log	Detailed receipts and floor-area calculations
Dedicated room required?	No	Yes, for occupancy costs
Best for	Hybrid or part-time WFH workers	Full-time home office users with dedicated workspace

 
Important: most employees cannot claim occupancy costs such as rent or mortgage interest. These are generally available only to people genuinely running a business from a dedicated home workspace. If you are uncertain whether your circumstances qualify, check with our tax expert, before lodging.

From 1 July 2022, the ATO requires a full-year hours record for the fixed rate method. A representative four-week diary is no longer accepted.
 

Vehicle and Travel Deductions: Logbook vs Cents per Kilometre

	Cents per Kilometre	Logbook Method
Max km per year	Up to 5,000 km	No limit
Logbook required?	No	Yes, 12 consecutive weeks
What you record	Business km and a reasonable basis for the claim	Every trip: date, purpose, odometer, km
How long logbook lasts	N/A	Up to 5 years (if work pattern unchanged)
Best for	Low business km, simpler record-keeping	High business km, established work-use percentage

 
If your logbook is approaching five years old or your work patterns have changed materially, this EOFY is the right time to start a new one. The cents-per-kilometre method requires no logbook, but you must be able to demonstrate how you calculated the kilometres claimed.
 

Occupation-Specific Deductions

The ATO publishes occupation-specific deduction guides, and the rules vary meaningfully between roles. Common examples:
 

• Tradies and construction workers: tools and equipment, protective clothing, vehicle costs
• Nurses and healthcare workers: uniforms, professional memberships, CPD costs
• Teachers: certain classroom expenses and professional development
• IT professionals: home office equipment, software, professional subscriptions

 
An H&R Block tax accountant can identify deductions that may not be obvious. See our occupation-specific deductions guide for more detail.
 

Self-Education Expense Deductions

Course fees, textbooks, and travel to educational institutions may be deductible, but only if the study directly relates to your current job. Education that qualifies you for a new career or a different role from your current one is not deductible, even if it is in the same general field.
 

Checklist Item 3: Review Capital Gains and Losses

Capital Loss Harvesting Before 30 June

Investments sitting at a loss can be sold before 30 June to crystallise a capital loss, which offsets capital gains made during the same year. Net capital losses cannot reduce salary or business income, but they can be carried forward indefinitely to offset future gains.

Before selling purely to crystallise a loss, consider whether you genuinely intend to exit the position and factor in transaction costs. Selling and immediately rebuying the same asset may be treated as a wash sale arrangement if the dominant purpose is obtaining a tax benefit.
 

The 12-Month CGT Discount Rule

Under the current rules, individuals who hold a capital gains tax (CGT) asset for more than 12 months are generally entitled to a 50% CGT discount. If you are close to the 12-month holding period on an asset you plan to sell, waiting until after the anniversary date can significantly reduce the taxable gain. Once you have passed the 12-month mark, there is generally no additional CGT discount benefit from holding the asset longer.

However, taxpayers should be aware of the changes to the CGT regime from 1 July 2027. From 1 July 2027, the current 50% CGT discount will be replaced with an inflation-adjusted cost base method and a minimum 30% tax rate on capital gains. The new arrangements will only apply to capital gains that accrue after 1 July 2027. Taxpayers will still be entitled to the 50% discount on the part of the gain on an asset that accrued before 1 July 2027.

For taxpayers considering the sale of shares, investment properties or other CGT assets over the coming years, the timing of a disposal may become increasingly important.
 

Crypto Tax and EOFY

Cryptocurrency is treated as an asset for CGT purposes in Australia, not as a currency. Every disposal, whether through a sale, an exchange for another cryptocurrency, or use of crypto to purchase goods or services, is a taxable event.

The ATO has significantly expanded its data-matching program for crypto exchanges. Before 30 June, review your full transaction history across all wallets and exchanges, including acquisition dates, amounts paid, and market values in AUD at the time of disposal.
 

ETFs and Managed Fund Distributions

Managed funds and ETFs may distribute capital gains to investors at EOFY. These distributions are assessable in the income year they are made, even if you did not sell any units. Check your holdings for expected distributions before 30 June, as these can affect your taxable income regardless of any direct action on your part.
 

Checklist Item 4: Small Business EOFY Planning

Small business owners face a more complex EOFY than individual employees. The interaction between income tax, GST, BAS, super guarantee, and available write-offs creates multiple decisions that need to be made before 30 June.
 

Instant Asset Write-Off 2026

Eligible small businesses can immediately deduct the full cost of eligible assets, rather than depreciating them over several years. For 2025–26, the threshold is $20,000 for businesses with aggregated annual turnover of less than $10 million. Assets costing more than $20,000 are added to a general small business pool and depreciated over time.

If you are planning to purchase equipment, technology, or vehicles for your business, buying before 30 June may allow the deduction to apply in the current financial year. The 2026 Federal Budget also announced a proposal to make the $20,000 instant asset write-off threshold permanent from 1 July 2026, providing greater certainty for eligible small businesses. However, this measure is not yet law and remains subject to the passage of legislation.

Before making any purchasing decisions, confirm the current threshold and eligibility rules with your tax agent or H&R Block tax professional, as instant asset write-off rules have changed multiple times in recent years.
 

Bad Debt Write-Offs Before EOFY

A debt you have genuinely given up on collecting can be written off and deducted before 30 June, provided it was previously included in your assessable income. Simply deciding to stop chasing an invoice is not sufficient, document your recovery steps, the basis for your conclusion that collection is unlikely, and the date of write-off.
 

Obsolete Stock and Inventory Write-Downs

Stock that is damaged, obsolete, or worth less than its cost price can be written down to its net realisable value before EOFY. Conduct a stocktake, identify impaired lines, and document your valuation basis for each item. The ATO may request evidence that written-down values reflect genuine assessment.
 

Prepay Deductible Business Expenses

Small businesses can prepay deductible expenses up to 12 months in advance and claim the full deduction in the current year. This includes rent, insurance, subscriptions, and certain professional fees, a useful strategy for bringing deductions forward when it is tax-advantageous to do so.
 

Division 7A and Director Loans

If you operate through a private company, Division 7A loans are an area the ATO actively reviews. Loans made by the company to shareholders or their associates must either be repaid or placed under a complying Division 7A loan agreement by the company's tax return lodgement date. If not, the loan amount may be treated as a deemed dividend for tax purposes.

Before 30 June, review any amounts owed to the company by shareholders or associates and ensure that minimum annual repayments on existing Division 7A loans have been made. As Division 7A rules can be complex and the consequences of non-compliance can be significant, it is advisable to discuss any outstanding loans with your tax agent or H&R Block tax professional well before the deadline.
 

Trust Distribution Planning Before 30 June

If you operate through a discretionary trust, distribution resolutions generally need to be prepared and signed before 30 June to avoid adverse tax outcomes. Failing to make a valid resolution before the deadline means trust income is assessed at the highest marginal rate.

Review your trust deed to confirm the resolution deadline, then draft and sign resolutions before 30 June. Consider how distributions interact with each beneficiary's personal tax position, particularly for any minor beneficiaries. See our dedicated guide or speak with your tax agent for detail.

 
Checklist Item 5: Investment Property Deductions

Investment property owners should review all property-related expenses before 30 June. Deductible expenses include loan interest, property management fees, council rates, insurance, and repairs. The distinction between repairs and improvements is particularly important:
 

Example	Classification
Fixing a broken tap	Repair: immediately deductible
Replacing all taps with upgraded fixtures	Improvement: must be depreciated
Repainting a wall to its original colour	Repair: immediately deductible
Converting a garage into a bedroom	Improvement: must be depreciated

 
If your property has never had a quantity surveyor's depreciation schedule prepared, commissioning one before lodging your return can unlock significant deductions for the decline in value of the building and its fixtures. See our investment property tax deductions guide for detail.
 

Checklist Item 6: Charitable Donations

Donations of $2 or more to organisations with Deductible Gift Recipient (DGR) status are tax-deductible. Verify DGR status before lodging, not all charities qualify, and contributions of time, raffle tickets, or purchases where you receive something in return are not deductible donations. Keep receipts for all contributions.
 

Checklist Item 7: Income Timing: Should You Defer or Bring Forward?

Income timing strategies involve legally bringing forward deductible expenses or deferring assessable income where possible to improve your tax position. For example, a business may choose to prepay certain expenses before 30 June or delay issuing an invoice until after year-end, depending on its circumstances. Any strategy should be implemented in accordance with ATO rules and only where there is a genuine commercial basis for doing so.

If your income will be higher next year: consider deferring income and bringing forward deductible expenses into the current year.

If your income will be lower next year: bringing income forward may allow you to use available offsets and lower tax brackets now.

Cash-basis taxpayers, most sole traders and individuals, have some flexibility. An invoice sent on 1 July rather than 29 June may defer income to the following year. Accelerating deductible expense payments before 30 June brings those deductions forward.

Accruals-basis taxpayers have less timing flexibility, as income is generally derived when earned rather than when received. Speak with your tax agent about which basis applies to your situation.
 

Checklist Item 8: Review Your Records and Receipts

The ATO data-matches at significant scale and may audit returns after the fact. When it does, the burden of proof falls on you.
 

ATO Record-Keeping Requirements

You are generally required to keep records that substantiate your claims for five years from the date you lodge the return they relate to. For capital gains assets, property, shares, crypto, records must be kept for five years after disposal, which may be significantly longer. Electronic records are acceptable provided they are legible and accessible.
 

What Documents Do You Need for Your Tax Return?

Gather the following before your tax appointment or lodgement:
 

• Income statements from all employers (available from MyGov once finalised)
• Bank interest statements from all accounts
• Dividend and investment income statements
• Payment summaries for government payments (Centrelink, Veterans’ Affairs)
• Receipts for all work-related expense claims
• Logbook or diary for vehicle or home office claims
• Records of any assets sold during the year (purchase and sale details)
• Rental property income and expense records
• Super fund statements and any notice of intent to claim forms lodged
• Private health insurance statement

 

Checklist Item 9: EOFY Payroll and Compliance for Employers

STP Finalisation Deadline

Under Single Touch Payroll, employers must submit a finalisation declaration through their payroll software by 14 July each year. This confirms that all payroll data reported throughout the year is complete and accurate, enabling employees to access their income statement through MyGov.

Review all pay events before submitting. Ensure corrections, termination payments, and salary sacrifice amounts are correctly reported. Employees cannot lodge with pre-filled income data until their employer submits the finalisation.
 

Super Guarantee Payment Deadline

Super guarantee contributions for the April to June quarter 2026 are due by 28 July. From 1 July 2027, super guarantee payments must be made on the same day as wages are paid.  However, to claim a tax deduction in the current financial year, contributions must be received and allocated by employees' super funds before 30 June.

Making a payment on 25 June does not guarantee it will be processed by the fund before 30 June. Check your clearing house processing times and fund cut-off dates. Most providers require lodgement 5 to 10 business days before 30 June.
 

PAYG Withholding Obligations

Confirm that all PAYG withholding amounts have been correctly withheld and remitted throughout the year. Reconcile your payroll records against BAS lodgements for the full year before submitting the STP finalisation. Discrepancies between amounts withheld and amounts reported through STP are visible to the ATO.
 

Checklist Item 10: Book Your Tax Appointment Early

The most consistently overlooked item on any EOFY checklist is simply booking your tax appointment early. H&R Block offices are significantly busier in July and August than at any other time of the year. Clients who book early get more time with their consultant, which directly improves the quality of their return.

Registering with H&R Block before 31 October also locks in access to the extended lodgement deadline of 15 May the following year, regardless of how complex your return turns out to be. You do not need to have your return ready by October. You simply need to be registered with a tax agent before that date to preserve your extension.
 

EOFY Important Dates 2026

Date	Obligation	Who It Applies To
30 June 2026	End of the 2025-26 financial year. All EOFY strategies must be executed.	Everyone
14 July 2026	STP finalisation declaration due	Employers
28 July 2026	Super guarantee Q4 payment due (Apr–Jun quarter)	Employers
31 July 2026	June quarter BAS due (monthly lodgers: 21 July)	Businesses registered for GST
31 October 2026	Tax return lodgement deadline for self-lodgers	Individuals lodging without a tax agent
31 October 2026	Deadline to register with a tax agent to access extended deadline	Individuals using a tax agent
15 May 2027	Extended lodgement deadline for registered tax agent clients	Individuals registered with a tax agent