Tax · Checklist — updated May 2026

Australian financial year-end checklist: what to do before 30 June

Super contributions, CGT position, investment deductions, WFH expenses, private health, and charitable giving — everything to action before the financial year closes.

Important

30 June is a hard deadline for most of these actions. Don't wait until the last day — bank transfers and super fund processing can take 2–3 business days. Estimates only. Not financial, tax or investment advice.

Superannuation

Check your concessional contributions cap.The cap is $30,000/yr including your employer's SGC (11.5%). If you haven't salary sacrificed, calculate how much cap space remains and whether a personal deductible contribution makes sense.

Check carry-forward cap space. If your super balance was below $500,000 on 30 June of the previous year, you can use unused cap space from up to 5 prior years. Log into myGov/ATO online to see your available carry-forward amount.

Co-contribution if income is below $58,445.If you make a personal (non-concessional) contribution, the government contributes up to $500 for free — 50 cents for every dollar contributed, up to $1,000. This is free money if you're eligible.

Spouse contribution tax offset. If your spouse earns under $40,000, you can contribute to their super and receive a tax offset of up to $540 (18% of up to $3,000 contributed).

Lodge notice of intent to claim deduction if making a personal concessional contribution. Must be submitted to your fund before you lodge your tax return.

Investments & CGT

Review your capital gains position for the year.If you have realised gains, identify unrealised losses you could harvest before 30 June to offset them. Losses carry forward indefinitely, so there's no urgency to use them — but matching them to gains in the same year maximises the benefit.

Check your CGT 2027 exposure. Review which investments you acquired between 1 July 2025 and now. These are subject to the new 30% discount (not 50%) if sold after 1 July 2027. Model whether selling before that date makes sense for any large unrealised gains.

Prepay investment loan interest for up to 12 months ahead. This pulls a deduction into the current tax year. Only relevant if you hold investments on margin or via an investment loan — check your loan terms first.

Check your ETF distribution dates. Some ETFs pay large annual distributions in June. If you purchase ETFs just before the ex-dividend date, you buy into the distribution and pay tax on income you effectively included in the purchase price. Check distribution schedules before buying in late June.

Tip

Use the CGT 2027 calculator to model your exact liability under old and new rules.

Investment Property

Prepay property expenses before 30 June where possible — landlord insurance, rates, strata fees (if annual). Prepayment brings the deduction forward to the current year.

Get a depreciation scheduleif you don't have one. A quantity surveyor's report ($300–$700) typically generates thousands in deductions per year — often worth many times its cost. New and recently renovated properties benefit most.

Review your negative gearing position. If your property is negatively geared, ensure all allowable deductions are captured: interest, depreciation, repairs, property management fees, council rates, and travel (if allowable under current rules).

Note the 2027 negative gearing changes.From 1 July 2027, negative gearing on established investment properties is restricted for new purchasers (existing investors are grandfathered). Review your position if you're considering adding to your portfolio.

Work Deductions

Claim work-from-home (WFH) expenses.The ATO's revised fixed rate is 67 cents per hour worked from home, covering electricity, internet, phone, and computer consumables. Keep records of hours worked at home (diary, timesheets, or employer confirmation).

Review your salary sacrifice arrangements. If you salary sacrifice for a car or laptop, ensure the arrangement is correctly documented and FBT (Fringe Benefits Tax) implications are accounted for.

Claim professional development and subscriptions directly related to your current role — courses, industry association fees, professional publications. Not for general education that qualifies you for a new role.

Check union fees and professional indemnity insurance — both are deductible for employees where they apply to your current employment.

General

Get private hospital cover if your income exceeds $93,000 (single). The Medicare Levy Surcharge (MLS) is 1–1.5% of income for those without cover. At $100k income, MLS is $1,000/year. A basic hospital policy can cost less than this.

Make charitable donations to DGR organisations before 30 June. Donations of $2 or more to DGR-registered charities are tax-deductible. Keep receipts.

Check your franking credit position. Australian dividends often carry franking credits (30% corporate tax already paid). These appear on your tax return as an offset against income tax owed. If your marginal rate is below 30%, you may receive a refund of excess franking credits.

Organise your records before 30 June — group certificates, payment summaries, dividend statements, investment transaction records. lodging early reduces waiting time for ATO pre-fill data.

Frequently asked questions

When is the deadline to make concessional super contributions?

Contributions must be received by your super fund by 30 June to count in the current financial year. Don't leave it to the last day — bank processing can take 1–3 business days. For BPAY contributions, initiate by 27 June to be safe. For salary sacrifice, the last payroll run before 30 June must include the contribution.

Can I claim a deduction for personal super contributions?

Yes. If you are self-employed or your employer doesn't salary sacrifice, you can make a personal contribution to super and claim a tax deduction. You must submit a 'Notice of intent to claim a deduction' to your fund before you lodge your tax return. The contribution is then treated as concessional (taxed at 15% inside super), saving you tax at your marginal rate minus 15%.

What is capital gains tax harvesting?

CGT harvesting (also called tax-loss harvesting) means intentionally selling assets with unrealised losses before 30 June to create capital losses that offset your capital gains for the year. For example, if you have a $20,000 gain from selling ETFs earlier in the year, selling another ETF with a $15,000 unrealised loss reduces your net capital gain to $5,000. The 50% discount then applies to this reduced amount.

How do I prepay investment loan interest?

Interest prepayment is a legitimate tax strategy for investment loans. If you prepay up to 12 months of interest before 30 June, the full amount is deductible in the current year — even though the loan continues into the next year. This is most useful in a year where you have unusually high income (a bonus, capital gain) and want to pull forward a deduction. Check with your lender that prepayment is allowed under your loan terms.

Who should get private health insurance to avoid the Medicare Levy Surcharge?

If your taxable income exceeds $93,000 (single) or $186,000 (family), you are liable for the Medicare Levy Surcharge (MLS) of 1–1.5% of your income unless you hold private hospital cover. At $100,000 income, the MLS is $1,000/year. A basic hospital cover policy from HBF, NIB, or Medibank can cost $700–$1,200/year — making it cost-neutral or cheaper than paying the surcharge.

Are charitable donations tax-deductible?

Yes — donations to DGR (Deductible Gift Recipient) organisations are tax-deductible if they are $2 or more and you receive nothing in return. The deduction reduces your taxable income, so the after-tax cost depends on your marginal rate: a $1,000 donation costs a 34.5% rate taxpayer just $655 after tax. Donations must be made before 30 June to count for the current financial year.

Related calculators & guides

Tax Return CalculatorCalculator Salary Sacrifice CalculatorCalculator Franking Credit CalculatorCalculator CGT Deadline 2027 GuideGuide