June 30 has a habit of sneaking up on people when one minute you’re thinking there’s plenty of time, the next the financial year is over and you’re scrambling for receipts, passwords and paperwork.
For Australians over 55, though, the weeks before June 30 can be surprisingly valuable.
From boosting your super to finally claiming deductions you’ve forgotten about, a few smart moves now could leave you better off heading into the new financial year.
Here are 10 things worth ticking off before the deadline arrives.
If you haven’t used your full concessional super contributions cap this year, you may still have time to add extra money into super and potentially reduce your tax bill.
The concessional cap for 2025–26 is $30,000, including employer contributions and salary sacrifice.
Adding extra money into super before June 30 can mean paying just 15 per cent tax on that money instead of their normal marginal tax rate for many of us.
Just remember: contributions often need to hit your super account several business days before June 30 so allow plenty of time.
This is the step many people miss.
If you make a personal super contribution and want to claim a tax deduction, you usually need to lodge a Notice of Intent to Claim form with your super fund.
No form can mean no deduction, even if you transferred the money correctly.
Most major super funds now let members complete the process online.
Many Australians don’t realise they may be able to contribute more than the annual cap using “carry-forward” rules.
If your super balance was under $500,000 last financial year, you may be able to use unused concessional contribution space from previous years.
For people who took time out of the workforce, worked part-time or simply didn’t contribute much in earlier years, this can be a significant opportunity.
You can check your available carry-forward amounts through myGov linked to the ATO.
Already retired and drawing income from super? Make sure you’ve taken the minimum pension payment required for the financial year.
Missing the minimum drawdown rules can create tax headaches and potentially affect the tax-free status of your pension account.
A quick check with your super fund now could save problems later.
EOFY becomes much harder when receipts are buried in gloveboxes, kitchen drawers and random email folders.
Now is a good time to collect:
Future-you will be grateful in July.
Streaming services. Apps. Gym memberships. Magazine renewals. Cloud storage. Premium trials you forgot existed…
Many Australians are quietly losing hundreds of dollars a year on subscriptions they barely use.
Take 20 minutes and check your bank statement for recurring charges.
You may find more savings there than in your electricity bill.
Depending on your extras cover, some health fund benefits reset on July 1.
That means it may be worth booking dental, physio, optical or hearing appointments before the end of June if you still have unused limits available.
Many people only remember this after the benefits disappear.
Check out Tips To Reduce The Cost Of Medications
June is a surprisingly good time to declutter.
Older Australians are increasingly selling unused furniture, tools, camping gear and collectibles online before downsizing or simplifying retirement plans.
A cleaner house and extra cash heading into winter is not a bad combination.
Superannuation doesn’t automatically form part of your will.
That’s why June is also a good reminder to review:
Life changes quickly but paperwork often doesn’t.
EOFY shouldn’t only be about money.
Book the trip or plan the weekend away, join the class, buy the concert tickets, or organise the family lunch.
People heading toward retirement often spend so much time worrying about finances they forget to plan for enjoyment too.
Sometimes the smartest investment is simply having something good to look forward to.