As the end of the financial year approaches, there’s still time to take advantage of key tax planning strategies—while also staying clear of increased ATO scrutiny.

This year, the landscape looks a little different. The ATO has stepped up enforcement, targeting even minor reporting issues. But with smart planning, you can reduce your tax bill, stay compliant, and feel confident heading into the next financial year.

Opportunities Worth Exploring

Bolster Your Super

If your total superannuation balance and income allow, making additional personal super contributions can offer a powerful tax deduction. You may also be eligible to carry forward unused concessional contributions from the past five years—up to $40,000 in deductions could be on the table if conditions are met.

Charitable Giving

Donations to registered deductible gift recipients (DGRs) over $2 are tax-deductible. For higher earners, the tax savings can be significant. Want to do more with your giving? Consider contributing to a public or private ancillary fund for long-term philanthropic impact and immediate tax benefits.

Depreciation for Property Investors

If you own an investment property and don’t have a depreciation schedule, this simple step can help maximise your deductions by accounting for the natural wear and tear on your property.

Write Off Bad Debts

If you’ve done everything you can to collect from a customer but haven’t been paid, writing off the debt before 30 June could give you a valuable deduction. Just make sure it’s clearly documented.

Scrap Obsolete Equipment

Still depreciating gear you haven’t used in years? Write it off if it’s genuinely obsolete.

Areas of ATO Focus

Work-from-Home Claims

The ATO is cracking down on work-from-home deductions. The fixed rate method (70c per hour) is still available, but you’ll need detailed logs of your work hours. Alternatively, if you use the actual cost method, you must keep itemised records of each expense.

Rental Properties

Expenses can only be claimed if the property is genuinely available for rent. Renting to family, charging below-market rent, or removing the listing for long periods could put your claims at risk. The ATO is also watching:

• Loans redrawn for personal use
  
  
• Repairs claimed as capital improvements
  
  
• Incorrect co-ownership splits
  
  

Gig Income & Digital Earnings

Income from Airbnb, Uber, content creation or any other digital platform must be declared—even if you haven’t transferred it out of your account. Platforms are now required to report this data directly to the ATO.

Company Deductions

For companies, deductions like director bonuses or June quarter super can only be claimed this year if they’re paid (or formally committed to) before 30 June.

Outstanding Lodgements

Late or missing BAS and tax lodgements raise red flags, especially when they become habitual. The ATO now has the power to issue assessments based on estimates and follow up with penalties.

Get Ahead of It All

Proactive planning is one of the best ways to take control of your finances, reduce stress, and improve outcomes at tax time. To help, we’ve created a free downloadable EOFY checklist designed to guide you through what to prepare, what to check, and what to discuss with your accountant before 30 June.