What Is EOFY Tax Planning — And Why It Matters in 2026
The end of financial year (EOFY) falls on 30 June 2026. Everything you do before that date — or don't do — directly affects how much tax you pay for the 2025–26 financial year.
The difference between proactive and reactive tax planning can be worth $2,000–$5,000 for a typical Australian worker earning $100,000. For higher earners and small business owners, the upside is significantly larger.
This guide gives you a practical EOFY checklist you can work through in under an hour.
EOFY Tax Checklist for Individuals
1. Top Up Your Super — The Highest ROI Move
Concessional (before-tax) super contributions reduce your taxable income and grow your retirement savings. The annual cap is $30,000 for 2025–26.
Key super EOFY moves:
- Salary sacrifice — arrange additional contributions through your employer. Give payroll at least 2 weeks notice before 30 June.
- Personal deductible contributions — if you're self-employed or your employer doesn't salary sacrifice, you can make lump-sum contributions and claim a deduction.
- Carry-forward rules — if your total super balance is under $500,000, you can carry forward unused concessional caps from the past five years. Check your cap space via myGov.
Deadline tip: Super contributions must be *received* by your fund by 30 June, not just initiated. Allow 3–5 business days for processing.
2. Prepay Eligible Expenses
You can claim a tax deduction this financial year for expenses that relate to the next 12 months. This is called prepayment and is one of the most underused legitimate strategies.
Commonly prepaid expenses:
- Income protection insurance premiums
- Professional memberships and licences
- Work-related subscriptions and software (Adobe, Microsoft 365, etc.)
How it works: If you pay for 12 months of an expense before 30 June, you can claim the full amount in this year's return, even though the service extends into next year.
3. Bring Forward Deductible Purchases
If you've been planning to buy work equipment, a laptop, or tools, doing it before 30 June means you claim the deduction this year instead of waiting.
- Items under $300 — immediately deductible under the temporary shortcut method (no depreciation schedule needed)
- Items $300 or more — decline in value (depreciation) claimed over the asset's effective life
Common deductible purchases: laptops, monitors, keyboards, tools, protective clothing, professional textbooks.
4. Make Charitable Donations
Donations to registered Deductible Gift Recipients (DGRs) are tax deductible. Requirements:
- Donation must be $2 or more
- You must not receive a personal benefit in return
- Keep your receipt — the ATO (ATO guidelines) requires written records
Search for registered DGRs at ABN Lookup.
5. Review Your Work-From-Home Records
If you worked from home during 2025–26, confirm you have:
- A timesheet, roster, or diary showing WFH hours for the full year
- Records of additional electricity, internet, and phone costs (if using the actual cost method)
Fixed rate method (70 cents/hour): All you need is your WFH hours log. No receipts required for the flat rate portion.
Actual cost method: You need four weeks of representative usage records plus receipts for all claimed expenses.
6. Check Your Investment Portfolio
For investors, key EOFY actions include:
- Selling losing assets — capital losses can offset capital gains. If you have shares or crypto that are underwater, selling before 30 June locks in the loss for this year's return.
- Reviewing negatively geared property — if you have an investment property with negative gearing, ensure your records of expenses are complete and up to date.
- Franking credits — if you receive dividends from Australian companies, check that franking credits are correctly accounted for. These can generate a refund if your tax liability is low enough.
7. Know Key EOFY Dates
| Date | Action |
|---|---|
| 30 June 2026 | Financial year ends — all deductible actions must be completed |
| 14 July 2026 | STP finalisation due (employers) |
| 28 July 2026 | June quarter BAS and super guarantee due |
| 31 October 2026 | Self-lodged tax return deadline |
| 1 July 2026 | Tax returns for 2025–26 can start being lodged |
What You Cannot Claim at EOFY
Common rejected claims the ATO sees every year:
- Everyday clothing — buying clothes you could wear privately (even if you mainly wear them for work)
- Commuting to and from work — this is never deductible
- Personal meals — meals eaten during work hours unless you're required to work away from home overnight
- Expenses your employer reimbursed — you can only claim the portion you actually paid
- Items not yet received or installed — ordering equipment on 29 June is not enough if it arrives in July
How AusTax AI Helps
Rather than manually tracking every deduction category, upload your receipts to AusTax AI. The AI analyses each receipt, identifies applicable deductions, and Organises them by category — including WFH, work equipment, professional development, and more.
Start free — no credit card required.
Disclaimer
Need Help With Your Tax Return?
Complex situation? a registered tax agent (see the directory) Our partner agents review every detail for accuracy and compliance.
*This is general information only based on publicly available ATO guidance for the 2025–26 financial year. Tax rules are complex and change annually. Consult a registered tax agent for advice tailored to your specific circumstances.*