Australian investors urged to act before June 30 tax deadline

The Australian financial year ends on 30 June 2026, prompting investors to review superannuation, capital gains and portfolio holdings. Voluntary concessional super contributions up to the $30,000 cap remain tax‑effective if received by the deadline, while Division 296, effective 1 July 2026, adds a 15% tax on earnings from super balances above $3 million (rising to 40% for balances over $10 million). SMSF trustees can elect to reset asset cost bases before 30 June 2026 to mitigate future tax.

The Australian Tax Office is increasingly using AI‑driven analytics to cross‑check returns, flagging discrepancies across income, deductions and investment accounts. In the 2024‑25 year, 595,000 returns required adjustment. Taxpayers are advised to avoid incorrect claims—such as overly large deductions for personal items—and to lodge returns outside the first few days of the new year to reduce audit risk. Commonly claimed categories include car expenses, travel, clothing and self‑education.

Overall, the deadline offers a chance for tax savings and portfolio optimisation, but also carries heightened compliance scrutiny.