The Clock Is Ticking: 30 June 2026 Is Closer Than You Think

Every year, the end of the Australian financial year on 30 June brings a rush of activity and a lot of missed opportunities. But this year is different. FY2025-26 comes with a raft of significant changes that affect individuals, small business owners, property investors, and SMSF holders alike.

From the Super Guarantee rising to 12%, to the new payday super rules, to the Division 296 tax on superannuation balances above $3 million, there is more to act on in May and June 2026 than in any recent year.

At FinTax Partners in Greenslopes, Brisbane, we work with individuals and businesses across South East Queensland to make sure they don’t leave money on the table at EOFY. This checklist covers exactly what you need to do, and do now, before 30 June 2026.

For Individuals: 6 Smart Tax Moves Before 30 June 2026

1. Top Up Your Superannuation (Concessional Cap: $30,000)

The concessional contributions cap for FY2025-26 is $30,000. Contributions made within this limit, including employer contributions and salary sacrifice, are taxed at just 15% inside super, rather than your marginal tax rate, which could be as high as 47%.

If your employer has not already contributed the full $30,000, you can make a personal concessional contribution before 30 June and claim it as a tax deduction. This is one of the most powerful and underused tax strategies available to everyday Australians.

Important: Contributions must be received by your super fund by 30 June, not just initiated. Arrange this at least a week before the deadline.

2. Prepay Deductible Expenses Before 30 June

If you have deductible expenses due in July or August, such as income protection insurance premiums, professional membership fees, or subscriptions relevant to your work, consider prepaying them before 30 June. Prepaid expenses of up to 12 months in advance are generally deductible in the current financial year for individuals.

3. Review Your Working-From-Home Claims

The ATO allows eligible employees and sole traders to claim home office expenses. For FY2025-26, you can use either the fixed rate method (67 cents per hour) or the actual cost method. Make sure your records, such as timesheets, diary entries, or logbooks, are up to date. This is an area of increased ATO scrutiny in 2026.

4. Check Your Private Health Insurance Status

If your income exceeds $93,000 as a single or $186,000 as a family, you may be liable for the Medicare Levy Surcharge unless you hold an appropriate level of private hospital cover. If you don’t have cover and your income is near these thresholds, it may be worth speaking with an adviser before 30 June.

5. Consider Deferring Income Where Possible

If you are a contractor, freelancer, or sole trader expecting a large payment in late June, consider whether it is practical to delay invoicing until after 1 July 2026. Income received in the new financial year is assessed in FY2026–27, giving you an extra 12 months before it is taxed.

This strategy only works if the arrangement is genuine and not artificial. Speak to a registered tax agent before taking this approach.

6. Engage a Tax Agent Now to Extend Your Lodgement Deadline

If you lodge your own tax return, the deadline is 31 October 2026. But if you engage a registered tax agent, like FinTax Partners, before 31 October, your lodgement deadline can be extended to 15 May 2027, giving you significantly more time to organise your affairs without penalty.

The earlier you register, the better. Agent client lists fill up fast in June.

For Small Business Owners and Sole Traders: What You Must Do Before 30 June

1. Superannuation Contributions Must Clear by 30 June

To claim a tax deduction for superannuation contributions in FY2025-26, the money must actually be received and processed by your employees’ super funds before 30 June. The Super Guarantee rate is now 12%, up from 11.5%, and non-compliance attracts significant ATO penalties.

From 1 July 2026, the new payday super rules require contributions to be made within 7 days of payday. Businesses that are not set up for this need to act now.

2. Maximise the Instant Asset Write-Off

Eligible small businesses (with turnover under $10 million) can immediately deduct the full cost of eligible assets purchased and first used or installed ready for use before 30 June 2026. If you have been considering purchasing equipment, a vehicle, machinery, or technology, EOFY is the optimal time.

Keep all invoices, receipts, and evidence of first use. The ATO has increased audit activity around these claims.

3. Prepay Business Expenses

Just as with individuals, small businesses can prepay expenses of up to 12 months in advance and deduct them in the current year. This includes rent, software subscriptions, insurance, and marketing costs. Bringing these payments forward reduces your taxable income for FY2025–26.

4. Finalise Your Single Touch Payroll (STP) Records

If you employ staff, your STP data must be finalised with the ATO by 30 June 2026. This triggers payment summaries for your employees and ensures your records match the ATO’s systems. Discrepancies discovered after lodgement can trigger reviews and penalties.

5. Lodge Your Q4 BAS on Time

The Q4 BAS (April–June 2026) is due on 28 July 2026. If you lodge through a registered tax agent, an extension may apply. Use this period to reconcile your GST, PAYG withholding, and any PAYG instalments. Businesses that have struggled with cash flow in FY26 may also be able to vary their PAYG instalments before the year closes.

6. Review Your Business Structure

EOFY is an ideal time to assess whether your current business structure, such as sole trader, company, or trust, is still the most tax-efficient arrangement. As your revenue grows, the tax savings available through a different structure can be substantial. FinTax Partners can conduct a structure review and model the tax impact before you make any changes.

For SMSF Holders: The Division 296 Window Is Closing

If your total superannuation balance exceeds $3 million, you need to act before 30 June 2026.

The Australian Parliament passed the Division 296 legislation on 10 March 2026. From 1 July 2026, earnings above the $3 million threshold will attract an additional 15% tax, effectively doubling the rate to 30%. Critically, the tax applies to unrealised capital gains, meaning you may receive a tax bill on assets you have not yet sold.

The cost base reset opportunity closes with the 2026 tax return. If you elect to reset the cost base of your SMSF assets to their market value as of 30 June 2026, all past capital gains are excluded from future Division 296 calculations. This election must be lodged with the ATO as part of your 2026 return; it cannot be done retrospectively.

If you haven’t already reviewed your SMSF position with a specialist, contact FinTax Partners immediately. This is a genuine and time-sensitive financial opportunity.

For Property Investors in Brisbane and Queensland

Investment property owners in South East Queensland should take the following steps before 30 June:

Order or update your depreciation schedule. A quantity surveyor’s depreciation report can unlock thousands of dollars in deductions annually, particularly for properties built after 1985 or recently renovated. This is a once-off cost that pays for itself many times over.

Distinguish between repairs and capital improvements. Repairs carried out on a rental property are generally deductible in the year they occur. Capital improvements, which improve the property beyond its original condition, must be depreciated over time. Misclassifying these is a common error the ATO actively looks for.

Review your loan structure. With interest rate movements continuing through 2026, EOFY is a natural time to review whether your investment property loan is still competitive. At FinTax Partners, our mortgage broking team can assess your current rate and structure, often finding refinancing opportunities that improve both cash flow and tax efficiency simultaneously.

Key EOFY Dates for FY2025–26 at a Glance

Don’t Wait Until 30 June to Start

The biggest EOFY mistake we see every year is leaving everything until the final week of June. By then, super contributions may not clear in time, asset purchases cannot be arranged, and tax planning becomes reactive rather than strategic.

The second-biggest mistake is not working with a registered tax agent at all. The difference between a well-planned EOFY and an unplanned one can easily run to thousands, or even tens of thousands, of dollars for a small business owner or investor.

At FinTax Partners, we offer accounting, tax planning, SMSF structuring, and mortgage broking services to individuals and businesses across Greenslopes, Brisbane, Logan, and South East Queensland.

Book your EOFY Strategy Session today before our June calendar fills up.