Another financial year is wrapping up and if you’re like many Australians, you’re asking:
What should I be doing before 30 June?
Whether you’re an individual looking to maximise your return or a business owner navigating the usual tax-time pressure, the steps you take now can make a real difference.
At Nationwide Financial, we’ve been guiding clients through EOFY for over 30 years. With our team of accountants, financial planners, and lending experts under one roof, we help you see the full picture, not just your tax return.
Here’s your updated EOFY 2025 checklist to make the most of the months ahead.
1. Claim What You’re Entitled To
Many people miss out on deductions simply because they leave it too late. Some common (and valuable) ones include:
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Work-related expenses like tools, uniforms, travel, or home office costs
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Investment property deductions
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Charitable donations to registered charities
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Prepaid expenses for the year ahead
Tip: Gather your receipts now and chat with us before 30 June.
We’ll help you claim what’s fair and stay fully compliant.
2. Top Up Your Super (and Save on Tax)
Contributing to your super before EOFY can help you lower your taxable income and grow your retirement savings.
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The concessional contributions cap is now $30,000, starting from 1 July 2024
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Haven’t used up your full caps from previous years? You may be eligible to “catch up”
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Non-concessional contributions of up to $110,000 may also be worth considering
Super is powerful, but it can also be complex.
Our financial planning team can help tailor the right strategy for your life stage.
3. Get Your Business EOFY-Ready
If you own a business, EOFY is the ideal time to step back and reassess, not just your tax, but your entire structure.
Some key areas to look at:
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Finalising trust distributions
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Making any last-minute asset purchases
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Reviewing your business structure for efficiency
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Ensuring PAYG and super obligations are up to date
📌 Instant Asset Write-Off Alert:
Right now, eligible small businesses can claim an immediate deduction for assets costing less than $20,000.
But this threshold is set to drop to $1,000 from 1 July 2025, so if you’ve been planning a purchase, now’s the time to act.
4. Review Capital Gains and Investment Activity
Selling shares, property, or crypto this year?
Here’s what to keep in mind:
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You can offset capital gains with any realised losses
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Holding assets for over 12 months? You may be eligible for a CGT discount
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The timing of sales can impact your taxable income, ask us before making a move
EOFY is also a great time to review your overall investment strategy and ensure it’s still working for you.
5. Consider a Tax Withholding Variation
Planning to vary your income tax withholding in the new financial year?
If you:
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Receive rental income
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Have large work-related deductions
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Or get allowances that reduce your tax position
…a withholding variation can help boost your cash flow by reducing the amount of tax withheld from your salary or wages.
We can help you get this sorted in time for 1 July, so the benefits kick in right from the new financial year.
6. Don’t Leave It to the Last Minute
The most common EOFY regret? Waiting too long to act.
A quick planning session now could save you a lot of time, money, and stress later on. Plus, we’ll help you uncover opportunities you might not have even known were available
Why Partner with Nationwide Financial?
Because we do more than tax returns.
We’re a full-service financial firm with specialists across accounting, financial planning, lending, super, insurance, and more. That means your financial life isn’t handled in isolation, it’s managed with strategy, structure, and care.
And with the launch of our lending division, Alora Finance, we can also help you restructure home and investment loans before EOFY to save on interest and improve cash flow.
At Nationwide, we’re all about long-term relationships, not one-off fixes.
📅 Let’s Chat Before 30 June
EOFY doesn’t have to be overwhelming. Whether you’re a seasoned investor, a small business owner, or just trying to get more organised, we’re here to help.
Book your complimentary tax planning session today.
Let’s make EOFY 2025 your most rewarding one yet.