As the 2025 financial year draws to a close, Australian households and investors are presented with a final opportunity to make strategic money moves. Financial commentator and author Bruce Brammall has outlined the critical deadlines and considerations for maximising your financial position before June 30.
Key Deadlines and Superannuation Strategies
The end of the financial year brings a hard deadline for several important financial actions. Bruce Brammall emphasises that June 30 is the final date to make personal deductible contributions to superannuation for the 2024-25 year. This is a pivotal strategy for those looking to boost their retirement savings while potentially reducing their taxable income.
For individuals who have not maximised their concessional contribution cap—which includes both employer Superannuation Guarantee payments and salary-sacrificed amounts—making a top-up payment can be highly beneficial. It is crucial, however, to ensure you have submitted a valid 'notice of intent to claim a deduction' form to your super fund and received an acknowledgment. This paperwork is essential for the Australian Taxation Office (ATO).
Brammall also highlights the importance of checking your total super balance. This figure determines your eligibility for various contribution strategies, including making non-concessional (after-tax) contributions or utilising the bring-forward rule. Failing to adhere to these limits can result in significant tax penalties.
Tax Planning and Investment Portfolio Review
Beyond super, the financial year end is a prime time for broader tax planning. Selling off underperforming investments to realise capital losses can be a savvy move. These losses can be used to offset capital gains made elsewhere in your portfolio, thereby reducing your overall tax liability for the year. This strategy, known as tax-loss selling, requires the transaction to be settled by June 30 to count for the 2024-25 year.
Brammall advises investors to conduct a thorough review of their entire investment portfolio. This isn't just about tax implications; it's about assessing whether your asset allocation still aligns with your long-term financial goals and risk tolerance. The period leading up to June 30 is an ideal moment to rebalance if your portfolio has drifted from its target mix due to market movements.
For those with investment properties, ensuring all deductible expenses are accurately documented and claimed is paramount. This includes interest payments, council rates, insurance, maintenance costs, and depreciation schedules. Organising these records now prevents a last-minute scramble during tax time.
Looking Ahead to the New Financial Year
While wrapping up the current year is critical, Bruce Brammall encourages Australians to also set their sights on FY2026. Proactive planning can set you up for success. This includes reviewing your budget, setting new savings goals, and considering your salary sacrifice arrangements for the coming year with your employer.
Furthermore, with potential policy changes always on the horizon, staying informed is key. Brammall's commentary serves as a reminder that a disciplined, annual financial health check is one of the most effective tools for building long-term wealth. By taking action on these strategies before the June 30 deadline, you can ensure you're not leaving money on the table and are positioning yourself for a stronger financial future.
In essence, the end of the financial year is not just an administrative date. It's a strategic inflection point for personal finance. As Bruce Brammall frames it, it's about closing one chapter efficiently to write a more prosperous one in the year ahead.
