EOFY Tax Tips 2026: 8 Things to Do Before 30 June to Maximise Your Refund

First, the two dates that matter. 30 June 2026 is an action deadline — the moment the financial year closes. 31 October 2026 is a lodgement deadline — when your return is due. Everything on this page is about the first one: things you must do before 30 June, because afterwards they can no longer change your 2025-26 result.

Tip 1: Top up your super before 30 June

Concessional (before-tax) contributions are taxed at just 15% inside super, instead of your marginal rate. For most working Australians that is an instant saving on every dollar contributed.

• The concessional cap for 2025-26 is $30,000, including your employer's Super Guarantee
• Your contribution must be received by the fund before 30 June to count this year
• To claim a personal contribution as a deduction, lodge a Notice of Intent to Claim with your fund before you lodge your return

Example: at a 32% marginal rate, a $5,000 extra concessional contribution saves roughly $850 in tax (the 32% you would have paid, less the 15% contributions tax).

Tip 2: Check if private hospital cover saves you money

If you earn over $101,000 as a single (or $202,000 as a family) and have no private hospital cover, you pay the Medicare Levy Surcharge of 1% to 1.5% on top of the ordinary levy. An appropriate hospital policy removes the surcharge — and often costs less than the surcharge itself. The cover must be in place from 1 July through the year (or for the days you want to avoid the surcharge), so review it before the new year starts.

Tip 3: Prepay deductible expenses before 30 June

You can prepay up to 12 months of certain deductible expenses and claim them in this financial year, bringing the deduction forward. Common examples:

• Income protection insurance premiums (held outside super)
• Interest on an investment loan
• Professional subscriptions and memberships
• Self-education course fees relating to your current job

This works best if you expect a similar or lower income next year.

Tip 4: Make your charitable donations now

Donations are deductible in the year you make them, so giving before 30 June lets you claim a year earlier. The gift must be $2 or more, to a charity with DGR status, and the receipt should state that it is tax deductible.

Tip 5: Finalise and total your WFH hours log

If you have been keeping a work-from-home log, make sure it is complete up to 30 June. If you have not, reconstruct it now from calendar entries, rosters and email timestamps while they are still easy to access. You will enter the total when you lodge between July and October — at $0.70 per hour, those hours add up.

Tip 6: Write off tools and equipment bought this year

Items under $300 bought for work and first used before 30 June are immediately deductible in full this year. If you genuinely need a piece of equipment, buying it before 30 June moves the deduction into the 2025-26 return. Items over $300 must be depreciated, but buying before EOFY still starts the depreciation clock this year.

Tip 7: Review your HECS-HELP balance

Compulsory HECS-HELP repayments are calculated automatically from your income when you lodge — they are not voluntary and there is no action needed before 30 June. But if you have a significant HELP debt and expect a refund, be aware the compulsory repayment will reduce it, so factor it in when you estimate your return.

Tip 8: Know your position now so lodgement is easy

The financial year closes 30 June — after that you cannot change what happened, but you have until 31 October to lodge. Doing your estimates now means you walk into myTax already knowing your refund, with no surprises. The difference between a small refund and a large one is usually just knowing what you were entitled to claim — and acting on the moves above while there is still time.

Your before-30-June checklist at a glance

Here are the action items in one place, with the deadline and the payoff for each:

After 30 June: from action to lodgement

Once 30 June passes, the 2025-26 year is locked — no more contributions, purchases or donations can change it. But that does not mean tax time is over; it has only moved into its second phase:

• From 1 July 2026 you can start preparing your return, ideally waiting until late July for your pre-fill data to finalise
• By 31 October 2026 you must lodge if you are doing it yourself through myTax
• If you used a registered tax agent (and signed up before 31 October), you may have until around May 2027

So the rhythm of tax time is simple: act before 30 June, then lodge before 31 October. Get the first part right and the second part is just data entry.