The EOFY checklist I give my own clients

End of financial year sneaks up every year, and most of the useful moves need to happen before 30 June, not after. Once the date passes, several of the better options are off the table until next year. Here's the checklist version of the conversation we have with clients every May and June.

For individuals

• Check your work-from-home records are up to date — see our working-from-home guide for what the ATO actually wants to see.
• Gather receipts for work-related deductions — uniforms, tools, subscriptions, self-education directly related to your current role.
• Think about super contributions. The concessional (pre-tax) contributions cap is currently $32,500 for the year, and the non-concessional cap is $130,000 — if you're planning to top up your super for a tax benefit, contributions need to actually land in your fund before 30 June, not just be initiated.
• Review any capital gains for the year — shares, crypto, or property sold. If you're holding an asset close to the 12-month mark for the CGT discount, check the exact date before deciding whether to sell before or after 30 June.
• Private health insurance — have your statement ready; it affects some offsets and the Medicare levy surcharge.

For small businesses

• Reconcile your books properly, not just roughly — bank accounts, debtors and creditors, month by month if they've drifted.
• Consider timing for asset purchases. If you're planning equipment or technology spending anyway, buying and having it installed ready for use before 30 June (rather than just ordered) can bring the deduction forward under the instant asset write-off, see our instant asset write-off guide for the detail.
• Do a stocktake if you carry trading stock. Required at year-end for businesses that deal in physical stock.
• Review outstanding invoices — both what you're owed and what you owe while there's still time to chase or pay before the year closes.
• Check your BAS lodgements are current — a clean run of quarterly BAS makes the annual return significantly smoother.

For everyone

• Round up last year's tax return if you're a new client this year. It saves a lot of back-and-forth.
• Don't wait until July to start. Nothing above needs to be finished by 30 June, but most of it needs to be started well before, since super contributions, asset purchases and CGT timing all have hard cut-offs that don't bend for busy schedules.

The one thing worth doing first

If you only do one thing from this list, make it the super contribution and capital gains timing check, those are the two areas where a decision made in early June can genuinely change what you owe, and they're both irreversible once 30 June passes.