With the End of Financial Year (EOFY) 2025 fast approaching, now is the perfect time to review your financial position, make the most of available opportunities, and set yourself up for a stronger financial future.
To help you do just that, we’ve put together a checklist of important considerations—covering super contributions, tax strategies, budgeting tips, and estate planning reminders.
Boost Your Super Contributions
Make the most of tax-effective contributions to grow your retirement savings:
- Concessional (pre-tax) contributions: Includes employer, salary sacrifice, and personal deductible contributions. Annual cap: $30,000.
- Catch-up contributions: Use unused concessional caps from the past five years if your total super balance is under $500,000.
- Non-concessional (after-tax) contributions: Annual cap: $120,000 (or more using the bring-forward rule).
- Government co-contributions: Up to $500 for low/mid-income earners.
- Spouse contributions: Up to $540 tax offset if your partner earns less than $40,000.
Don’t forget: If you want to claim a tax deduction on personal contributions, you must lodge the appropriate notice with your super fund and receive an acknowledgment.
Plan Ahead for the New Financial Year
- Set clear financial goals: Break big goals into manageable steps.
- Reassess your budget: Update for any lifestyle or income changes.
- Establish an emergency fund: Aim to cover 3–6 months of living expenses.
- Track your progress: Regularly review and stay accountable.
Extra Tip: Review Your Estate Plan and Stay Cyber-Safe
- Ensure your will, insurance, and estate planning documents are up to date—especially after life events like marriage, children, or buying property.
- Be extra vigilant about cybersecurity and scams around EOFY. Use two-factor authentication and always verify unusual communications.
Let’s Make EOFY 2025 Count
Whether you’re looking to boost your super, reduce your tax bill, or plan with more intention, the time up to 30 June present valuable opportunities. If you have questions or would like tailored advice for your situation, please don’t hesitate to get in touch—we’re here to help.
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.