With the end of the financial year fast approaching, now is a good time to get organised and consider what strategies may be available before 30 June.
Time for a portfolio review
A practical place to start is reviewing your investment strategy. Recent market movements may have changed how your portfolio is positioned, or how comfortable you feel with that level of risk.
It’s also worth checking any capital gains or losses before 30 June, as this may present opportunities to take action where appropriate.
For example, realising capital losses may help offset gains from assets such as shares, property or crypto.
Super contribution strategies
Another key area to review is your super contributions.
If you have not yet reached your contribution caps, you may be able to make additional contributions before year-end. This includes concessional contributions (e.g. employer or salary sacrifice) and non‑concessional (after‑tax) contributions.
If you’re planning to contribute before 30 June, it’s important to check timing:
- When your employer will process their final contributions
- The cut-off date set by your super fund (often around 25–26 June)
With the introduction of Payday Super, some employers are contributing earlier, which may affect your available cap.
If you’re considering contributing, it’s worth checking in first to ensure everything is completed correctly and on time.
For SMSF members, ensure that:
- Contributions are received by the fund before 30 June
- Minimum pension payments have been met
- Asset valuations are up to date
- Fund records are current
Division 296 super tax
From 1 July 2026, Division 296 tax will apply to earnings in the 2026–27 financial year onwards.
For individuals with a total super balance exceeding $3 million, an additional tax may apply to a portion of earnings, depending on the level of their balance.
Given the thresholds involved, this is likely to impact a smaller group of investors, but it is important to be aware of ongoing changes in this area.
Tax timing strategies
There may also be opportunities around the timing of income and expenses.
In some cases, bringing forward deductible expenses (such as investment loan interest or other annual costs) before 30 June may allow you to claim them in this financial year.
Similarly, where possible, deferring income until after 30 June may help manage your overall tax position.
It’s also worth noting that tax rates for lower income earners are set to reduce from 1 July 2026, with further changes in future years.
Tax returns done right
While planning before year-end is important, it’s equally important to ensure your tax return is accurate.
The ATO continues to focus on:
- Work-related deductions
- Undeclared income
If you are claiming work-related expenses, they must meet three key requirements:
- They are directly related to earning your income
- You have not been reimbursed
- You have appropriate records to support the claim
If you work from home, you may be able to claim expenses using either the actual cost method or the fixed rate method.
Don’t overlook income
The ATO is also paying close attention to income that may be missed, including:
- Cash payments
- Interest income
- Rental income
- Earnings from crypto assets
If you have a side hustle, it’s important to determine whether it is considered a business, as all income must be declared regardless of the amount.
If you intend to claim deductions related to that income, ensure they are clearly connected and supported by records.
If you would like to discuss ways to boost your super before the end of the financial year, or review your investment strategy, please get in touch to ensure everything is in place ahead of 30 June.
Important Information:
CSF Private Wealth Pty Ltd (ABN 36 634 263 148) is a Corporate Authorised Representative No.1299668 of InterPrac Financial Planning Pty Ltd (Australian Financial Services Licence Number 246638).
The information in this article is general in nature and does not take into account your objectives, financial situation or needs. Before acting on this information, consider whether it is appropriate to you, and seek personalised advice where required.
