Your EOFY Checklist: Smart Moves to Make Now That Could Reduce Your Tax and Boost Your Super

June 30 has a way of sneaking up on people. 

One minute you’re thinking, I’ll sort that out soon. The next, EOFY is here and you’re wondering if you’ve missed something that could have helped your tax, your super, or your broader financial plan. 

And that’s the part that catches people out. EOFY is not just about receipts and tax returns. It can be a chance to check whether there are smart moves still worth making before the financial year ends. 

What should you check before EOFY? 

Before June 30, it may be worth reviewing: 

• Whether you can make additional super contributions 
• If you are eligible to claim a tax deduction for personal super contributions 
• Whether unused concessional contribution caps could help if you have had a bigger tax year 
• Spouse contributions, contribution splitting and government co contributions 
• SMSF minimum pension payments 
• Your super beneficiary nominations and insurance premiums 
• Investment portfolios, capital gains and capital losses 
• Charitable donations you may want to claim 
• Family trust distributions and business super obligations 

Some of these checks are simple. Others depend on your income, super balance, cash flow, tax position and long term goals. That is why EOFY planning should not be about copying what someone else is doing. It should be about working out what actually applies to you. 

The timing trap people miss 

One of the biggest EOFY mistakes is assuming that making a super contribution on June 30 is enough. 

It may not be. 

Your super fund generally needs to receive the contribution before the end of the financial year. So if the money lands on July 1, it may count towards the next financial year instead. 

That small timing detail can matter if you were hoping to use this year’s contribution cap, claim a tax deduction, or make the most of an EOFY opportunity. 
 
The goal is not to rush into last-minute decisions because the calendar says June. 

The goal is to pause, check what is relevant, and make sure any action you take fits your bigger financial picture. 

In this episode of the Wealth Builder Podcast, financial adviser Nick Donato is joined by Brendan from the Guidance team to talk through the EOFY checks worth making before June 30, including super contributions, tax deductions, catch up caps, spouse contributions, SMSFs, investment portfolios, family trusts and business obligations. 

If EOFY has you wondering whether there is something you should be doing before June 30, this episode gives you a practical place to start.