10 EOFY Tax Tips to Reduce Your Tax Bill Before 30 June 2026

With 30 June approaching fast, this is the most valuable time of the financial year to take action on your tax position. These 10 strategies are legal, ATO-compliant, and available to most Australian individuals, sole traders, and small business owners — but most of them have hard deadlines. Miss June 30 and you wait another year.

Every year, thousands of Australians pay more tax than they need to simply because they run out of time to act. The good news is that if you're reading this before the end of financial year, you still have a window to make a real difference to your tax bill — sometimes by thousands of dollars.

Here are 10 EOFY tax tips that actually work, written in plain English by CPA-qualified accountants in Brisbane.

1. Max Out Your Concessional Super Contributions

Super is one of the most powerful — and most underused — tax reduction tools available to Australians. Concessional contributions (pre-tax contributions, including salary sacrifice and personal deductible contributions) are taxed at just 15% inside your super fund, compared to your marginal tax rate which could be up to 47%.

For the 2025–26 financial year, the concessional contributions cap is $30,000 per person. This includes:

If you haven't used your full cap, you may also be able to access carry-forward unused contributions from the previous five financial years — provided your super balance was below $500,000 on 30 June of the previous year. This can significantly boost your allowable contribution.

2. Prepay Deductible Expenses Before 30 June

If you prepay a deductible business or investment expense before 30 June, you can generally claim the deduction in the current financial year — even if the benefit extends into the next year. This is a simple way to bring forward a deduction you'd have claimed anyway.

Common prepayable expenses include:

• Professional association memberships and subscriptions
• Business insurance premiums
• Accounting and bookkeeping fees
• Rent on business premises
• Interest on investment loans (if prepaid up to 12 months in advance)
• Software subscriptions (Xero, Microsoft 365, etc.)
• Training courses and conferences booked for the next financial year

3. Use the $20,000 Instant Asset Write-Off

If your business has an aggregated annual turnover under $10 million, you can immediately deduct the full cost of eligible business assets costing less than $20,000 each — as long as they're purchased and first used (or installed ready for use) before 30 June 2026.

This is a per-asset threshold, meaning you can write off multiple assets in the same year.

Common examples your business might consider before EOFY:

• Laptops, tablets, and business smartphones
• Office furniture and equipment
• Tools specific to your trade
• Point-of-sale systems
• Work vehicles (if under $20,000)
• Software licences

4. Write Off Bad Debts Before Year End

If your business is owed money that you've genuinely given up trying to collect, you can claim a tax deduction for the bad debt — but only if you formally write it off in your books before 30 June.

The ATO requires that the debt was included in your assessable income in a previous year (i.e., you already paid tax on it) and that you've genuinely decided it's unrecoverable. Simply deciding in July that a June debt was bad won't work — it must be recorded before year end.

Practically, this means reviewing your accounts receivable now and formally writing off any invoices you know won't be paid.

5. Review and Write Off Obsolete Stock

If your business holds trading stock, you can value it at the lower of cost, market selling value, or replacement value at 30 June. If you have stock that's obsolete, damaged, or worth less than what you paid for it, writing it down reduces your closing stock value — which directly reduces your taxable income.

For small businesses, you can also take advantage of the simplified trading stock rules: if the difference between your opening and closing stock is less than $5,000, you don't need to do a physical stocktake — you can simply use the opening stock value as the closing value.

6. Make Tax-Deductible Charitable Donations

Donations of $2 or more to a DGR (Deductible Gift Recipient) organisation are tax-deductible in the year they're made. If you're planning to make a charitable donation this year, making it before 30 June locks in the deduction for 2025–26.

Keep your receipts — the ATO requires written evidence for donations over $10. Electronic donation receipts from the charity's website are acceptable.

You can check whether an organisation is a DGR on the ATO's ABN Lookup tool. Not all charities qualify — the organisation must be registered as a DGR.

7. Review Your Investment Portfolio for Capital Losses

If you've sold investments that made a capital gain this financial year, consider reviewing the rest of your portfolio for investments currently sitting at a loss. Selling a loss-making asset before 30 June crystallises the capital loss, which can be used to offset your capital gains — potentially reducing or eliminating the CGT payable.

8. Maximise Salary Sacrifice Arrangements

Salary sacrifice allows you to redirect a portion of your pre-tax salary into benefits like super, a novated car lease, or other exempt items. The amount sacrificed reduces your taxable income — meaning you pay less income tax and potentially less Medicare Levy Surcharge.

If you haven't yet maximised your salary sacrifice super contributions for 2025–26, talk to your payroll department now. Your employer will need time to process the arrangement before the end of the financial year — requests made in late June may be too late to take effect.

9. Time Your Income and Invoicing Strategically

If you expect your income to be higher this year than next (perhaps because you're winding down a business, going part-time, or selling an asset), consider deferring income into the next financial year where legally possible.

For cash-basis taxpayers (most sole traders and small businesses):

• Delaying issuing invoices until after 30 June means the income is recognised in 2026–27
• Accelerating deductible expenses into 2025–26 reduces this year's taxable income
• The combination of both can produce a significant tax saving

Conversely, if you expect higher income next year (a new contract, a raise, or a business sale), consider accelerating income into 2025–26 to take advantage of this year's lower effective tax rate.

This is not about evading tax — it's legitimate timing that the ATO explicitly recognises for cash-basis taxpayers.

10. Book a Professional Tax Planning Session

The nine strategies above can each make a meaningful difference — but the real value comes from reviewing them together, in the context of your specific income, structure, and financial goals. A CPA-qualified accountant will identify opportunities specific to your situation that generic checklists miss: the right amount to contribute to super without exceeding your cap, whether your structure is efficient, whether a trust distribution needs to be resolved before 30 June, and more.

A tax planning session before EOFY is one of the highest-ROI professional services available. For many clients, a one-hour review results in tax savings that are many times the cost of the session.

Key EOFY 2025–26 Dates & Thresholds at a Glance

Frequently Asked Questions

When is the EOFY deadline for tax strategies?

30 June 2026. Most strategies — particularly super contributions and writing off bad debts — must be actioned before this date. For super, your fund must receive the funds by 30 June, so allow at least 3 business days for transfers.

Can I prepay my mortgage interest as a tax deduction?

Not on your principal home loan — that's a private expense. But if you have an investment property loan, you can prepay up to 12 months of interest before 30 June and claim it as a deduction in the current year. Confirm the terms with your lender first, as not all investment loans allow prepayment.

Does buying a car before 30 June really save tax?

Potentially, yes — if the vehicle costs under $20,000 and qualifies for the instant asset write-off. But don't buy a car solely for a tax deduction. The deduction saves you tax at your marginal rate on $20,000 — so at 39%, that's $7,800 in tax savings on a $20,000 car. The net cost of the car is still $12,200. Only buy it if you genuinely need it for your business.

What is the super contribution deadline for 2025–26?

Your super fund must receive the contribution by 30 June 2026. If you're making a personal deductible contribution, you also need to lodge a valid Notice of Intent to Claim a Deduction with your fund before you lodge your tax return for the year.

Do I need a tax agent to implement these strategies?

Some strategies (like prepaying expenses or making a donation) you can do yourself. Others — particularly super carry-forward contributions, CGT harvesting, trust distributions, and salary sacrifice arrangements — involve complexities that are easy to get wrong. An error with super contributions, for example, can result in excess contributions tax that exceeds the benefit of the strategy.

Act Now — June 30 Doesn't Move

The strategies in this guide are available to most Australians, but they all share one thing in common: a hard deadline. Leave them until July and you're waiting another 12 months. Start now, and even implementing two or three of these tips could save you thousands before the end of the financial year.

If you'd like a professional review of your specific situation before 30 June, book a tax planning session with our Brisbane CPA team. AUD $250, 60 minutes, and we'll identify exactly how much you could save.