Whether you’re an employee, investor, or retiree, smart tax strategies can help you reduce your taxable income, boost your refund, and avoid unexpected tax bills. This EOFY 2025 guide for individuals covers all your important tax deductions.
This guide outlines the most effective and commonly overlooked EOFY strategies for individuals, including deductions, superannuation strategies, and capital gains considerations—helping you prepare with confidence ahead of 30 June 2025.
- Bring Forward Investment Deductions
Prepay up to 12 months’ worth of interest on investment loans (e.g. for property or shares) to claim a deduction in the 2024–25 tax year.
- Claim Work-from-Home Expenses
The ATO’s revised fixed rate method allows you to claim 70 cents per hour for eligible home office costs. Ensure you keep:
- A record of total hours worked from home
- Receipts for internet, electricity, and other relevant bills
- Motor Vehicle Claims
Maximise your motor vehicle deductions by keeping a valid logbook for 12 continuous weeks.
- Without a logbook: Max claim is 5,000 km at $0.88/km = $4,250
- With a logbook: Claim based on business-use percentage
- Charitable Donations
Donate to a registered Deductible Gift Recipient (DGR) before 30 June. Keep official receipts to claim a tax deduction.
- Income Protection Insurance
Premiums for personally held income protection policies are tax-deductible. Consider paying annually before EOFY to maximise deductions.
- Concessional Super Contributions
Make contributions up to the $30,000 cap to claim a personal tax deduction (remember that you need to deduct any employer contributions and salary sacrifice contributions already made). You must also:
- Be under 67 (or meet the work test if older)
- Submit a valid notice of intent to your super fund
Tip: You may also use “catch-up” contributions if your super balance was under $500,000 on 30 June 2024.
- Non-Concessional Contributions
Boost your retirement savings with after-tax contributions (not tax deductible) up to:
- $120,000 per year, or
- $360,000 using the 3-year bring-forward rule (if under 75)
- Government Co-Contributions
| Income Range (2024–25) | Maximum Co-Contribution |
| $45,400 or less | $500 |
| $45,400 – $60,400 (phased out) | Partial amount |
To qualify, you must:
- Earn at least 10% of income from employment or business
- Make a personal after-tax contribution of up to $1,000
- Division 293 Tax
If your income + concessional super contributions exceed $250,000, an additional 15% tax applies to those contributions.
- Capital Gains Tax (CGT) Management
Offset capital gains by realising losses before 30 June. If you’ve held an asset for over 12 months, the 50% CGT discount may apply.
- Medicare Levy Surcharge
| Income Tier | Singles Threshold | Families Threshold* | Surcharge Rate |
| Tier 1 | $97,000 | $194,000 | 1.0% |
| Tier 2 | $113,000 | $226,000 | 1.25% |
| Tier 3 | $151,000+ | $302,000+ | 1.5% |
*Add $1,500 per dependent child after the first.
Avoid the surcharge by holding eligible private hospital cover.
FAQs – EOFY 2025 for Individuals
1: Can I still claim deductions if I haven’t paid an expense yet?
Yes, if you’re on an accrual basis and the service was provided before 30 June, the expense may be deductible, even if paid after EOFY.
2: What happens if I exceed my concessional contributions cap?
Excess amounts are taxed at your marginal rate (less a 15% offset), plus you may incur an excess concessional contributions charge.
3: Is crypto subject to capital gains tax?
Yes. Selling, exchanging, or using cryptocurrency may trigger a CGT event. Keep accurate records of all transactions.
4: How do I claim working-from-home deductions under the revised method?
You must maintain a diary or electronic record of your hours worked from home and evidence of household running costs.
5: Are personal super contributions worth it?
Absolutely. You may receive a tax deduction, reduce taxable income, and benefit from long-term compound growth.
Conclusion
EOFY tax planning doesn’t have to be overwhelming. By taking action before 30 June 2025, individuals can take advantage of deductions, superannuation strategies, and tax offsets that may significantly reduce tax liabilities or boost refunds. As with all financial decisions, personalised advice from your accountant or tax adviser can ensure you make the most of the opportunities available to you.
For peace of mind and potential savings, start planning now—EOFY is closer than you think.
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The material on this page and on this website has been prepared for general information purposes only and not as specific advice to any particular person. Any advice contained on this page and on this website is General Advice and does not take into account any person’s particular investment objectives, financial situation and particular needs.
Before making an investment decision based on this advice you should consider, with or without the assistance of a securities adviser, whether it is appropriate to your particular investment needs, objectives and financial circumstances. In addition, the examples provided on this page and on this website are for illustrative purposes only.
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