EOFY Check List 2026
As we head toward 30 June, this is a good time to step back and review the end of financial year opportunities that may be available.
We’ll be in touch with you between now and June 30 if there are strategies that need to be checked in on, but below is a great overview to make sure you have all the information and get familiar with the terms that you’ll hear echoed from us a lot over the next few weeks.
For many of you, some of these strategies may already be built into your current plan, or may already be under review as part of the work we are doing together. Even so, EOFY is an important time to check the details, confirm what needs to be done, and make sure nothing is missed.
The biggest issue at this time of year is often timing. With super in particular, it is not enough to decide on a strategy before 30 June — the money and paperwork usually need to be received and processed in time as well. That is why acting early can make a real difference.
Personal deductible super contributions
Making a personal contribution to super and claiming a tax deduction can be a simple and effective strategy for some clients.
It may help reduce taxable income this financial year while also increasing retirement savings. This can be especially relevant if you have received a bonus, sold an investment, or earned more than usual this year.
Just as important as the contribution itself is the paperwork. To claim the deduction, the correct notice must be lodged with your super fund and acknowledged before certain steps are taken, such as lodging your tax return, starting a pension, or moving money out of the fund.
Catch-up concessional contributions
If you have not used all of your concessional contribution cap in previous years, you may be able to contribute more this year using the catch-up contribution rules.
This can be particularly useful for people whose income changes from year to year, who have spent time out of the workforce, or who have a one-off opportunity to contribute more this year.
This is an important year for that strategy, because any unused concessional cap from 2020/21 will expire if it is not used by 30 June 2026.
Pension and retirement phase planning
For clients approaching retirement, or already drawing from super, EOFY can also be a useful time to review pension-related opportunities and obligations.
In some cases, upcoming rule changes from 1 July 2026 may create additional planning opportunities. For SMSF clients already in pension phase, it is also important to ensure minimum pension requirements are met before 30 June.
Salary Sacrifice Review
Salary sacrifice remains a useful way to contribute to super from pre-tax income, but it is important to keep an eye on how it fits with your overall concessional contribution cap.
This is also a timely moment to review salary sacrifice arrangements because some super rules are changing from 1 July 2026. For some clients, that may create new opportunities. For others, it may mean extra care is needed to avoid contribution timing issues.
Spouse contribution and contribution splitting
For couples, EOFY can be a good time to review whether super balances are being built in the most effective way across both partners.
A spouse contribution may provide a tax offset where eligibility rules are met. Contribution splitting may also be worth considering, particularly where one partner is closer to certain super limits than the other.
These strategies can help improve flexibility over time and are often most useful when they are considered early, not late.
After-tax super contributions
If you are thinking about adding after-tax money to super, it is important to check your available cap space first.
Contribution limits, bring-forward rules, and total super balance thresholds all matter here. In addition, some of these limits increase from 1 July 2026, so for some clients it may make sense to act before 30 June, while for others waiting until the new financial year may be the better fit.
This is one of the areas where individual circumstances matter most.
Government co-contribution
For lower income earners, making a personal after-tax contribution to super may also unlock a Government co-contribution.
This is one of those opportunities that can be easy to overlook, but where the rules apply, it can provide a helpful boost to retirement savings.
Other EOFY opportunities
While super is often the main focus, EOFY planning is not only about super contributions.
Depending on your circumstances, it may also be worth reviewing capital gains, deductible expenses, Centrelink gifting limits, or whether the timing of a retirement or redundancy could affect outcomes across financial years.
These are not relevant for everyone, but they are worth keeping in mind as part of a broader EOFY review.
Why this matters
EOFY planning is not about rushing into last-minute decisions. It is about making sure the right opportunities are considered, the details are handled properly, and any strategy that suits your circumstances is completed in time.
For many of us, the value is not just in finding something new to do. It is in making sure existing plans are followed through properly and no opportunities are lost through delay or paperwork issues.
A final reminder
Some of the items above may already be part of your strategy, and in many cases we may already be working through them with you.
But if anything in this update raises a question, sounds relevant to your situation, or simply feels worth checking before 30 June, please contact us. We are always happy to talk through what may apply, what may already be in place, and what may need attention before EOFY.
Have a read through, and as always let us know if you want to discuss any of the above further. Please bear in mind that not all the strategies will be applicable to you, and always speak with your professionals before putting anything in place. If you want to meet with us and you aren’t already one of our wonderful clients, you can book directly in with Kristopher here.
You can reach us via email at hello@wealtheon.com.au or via phone on 1800 577 336.
Information on this site may be regarded as general advice. That is, your personal objectives, needs or financial situations were not taken into account when preparing this information. Accordingly, you should consider the appropriateness of any general advice we have given you, having regard to your own objectives, financial situation and needs before acting on it. Where the information relates to a particular financial product, you should obtain and consider the relevant product disclosure statement before making any decision to purchase that financial product.