30 June 2026 is almost here, and with it, a closing window on some valuable tax planning opportunities. Once the date passes, most strategies are locked out for another year.
Here’s what’s worth raising with us before the end of the financial year.
For Business Owners
The $20,000 instant asset write-off, if your business turns over less than $10 million, any eligible asset purchased and installed ready for use before 30 June can be written off immediately rather than depreciated over several years. This applies per asset, so multiple purchases each qualify.
Bringing forward deductible expenses, paying certain business expenses early (insurance premiums, software subscriptions, repairs and maintenance) can shift the deduction into this financial year. For most small businesses the 12-month prepayment rule applies.
Writing off bad debts and obsolete stock, if you have invoices you know won’t be paid, or inventory that’s no longer worth its book value, formally recognising those losses before 30 June can generate a useful deduction, and potentially a GST credit on the bad debts.
Trust distribution resolutions, if you operate through a family trust, the trustee must sign a valid distribution resolution before midnight on 30 June. Missing this deadline can mean the trust’s entire income is taxed at the top marginal rate of 47%. This is one deadline that genuinely cannot be fixed after the fact.
Division 7A loan repayments, if a shareholder has an outstanding loan from a private company, the minimum annual repayment must be received by the company before 30 June, or the shortfall becomes a taxable unfranked dividend.
A new one to be aware of: from 1 July 2025, ATO interest charges (GIC and SIC) are no longer tax deductible. If you’re carrying any ATO debt, the after-tax cost of that debt has just gone up materially. Ask us whether it makes sense to clear it before year-end.
For Individuals
Superannuation top-ups, the concessional contributions cap is $30,000 for 2025–26 (including your employer’s SGC). If you haven’t used your full cap, a personal contribution can reduce your taxable income dollar-for-dollar. If your super balance is under $500,000, you may also be able to carry forward unused cap amounts from previous years for an even larger contribution. The contribution must be received by the fund by 30 June, allow a few business days.
Timing capital gains and losses, if you’ve made capital gains on investments this year, selling other assets at a loss before 30 June can reduce the net taxable gain. Equally, if you’re thinking of selling a property or shares, the contract date determines which year the gain falls in, so timing matters.
Charitable donations, gifts to registered charities are deductible in the year they’re made. A donation made on 30 June counts this year; on 1 July, it’s next year’s return.
This article is general in nature. Please contact us to discuss your specific circumstances