As the financial year draws to a close, many professionals find themselves in a familiar place: juggling tax planning, superannuation deadlines, and last-minute paperwork, while also trying to keep an eye on their broader financial goals.

The reality is this: EOFY is not just about compliance.

It’s one of the most powerful times of year to bring your wealth strategy together, maximise your tax efficiency, and position yourself for the year ahead. This is particularly true for high-income earners and SMSF trustees who want to make the most of the contributions landscape before it resets on 1 July.

Here are five key actions you may wish to consider before 30 June 2025:

1. Maximise Concessional Super Contributions (Use It or Lose It)

The concessional contribution cap for 2024–25 is $30,000. This includes employer super guarantee, salary sacrifice, and personal deductible contributions. For those who are eligible, this can offer significant tax savings while growing wealth in a low-tax environment.

Importantly, if your Total Super Balance (TSB) was under $500,000 on 30 June 2024, this is your last opportunity to utilise unused concessional cap space from the 2019–20 financial year under the 5-year carry-forward rule. That portion will expire if not used before this 30 June.

To access any carried-forward amounts, you must first contribute the full $30,000 for this financial year.

2. Leverage the $480,000 Non-Concessional Contribution Strategy

For those with access to surplus funds—such as from asset sales, business exits, or inheritance, the window around EOFY can allow you to make a large contribution to super in a short timeframe.

Here’s how:

• Contribute $120,000 before 30 June 2025 (non-concessional cap)
  
• Then, from 1 July 2025, use the bring-forward rule to contribute a further $360,000
  
• This totals $480,000 moved into the superannuation environment within a matter of weeks

As always, eligibility is tied to your Total Super Balance and age, so seek advice before proceeding.

3. Key SMSF Reminders to Secure Tax Exemptions and Pension Caps

EOFY is especially critical for SMSF trustees nearing or in retirement.

• If you’re preparing to commence an account-based pension and your super balance is high, timing matters. The pension transfer balance cap increases from $1.9 million to $2.0 million on 1 July 2025. Starting your pension after 1 July could give you an extra $100,000 in the tax-exempt retirement phase.
  
• If you’re already in pension phase, ensure you have taken your minimum pension payment before 30 June 2025. Missing this step may result in loss of the fund’s tax exemption on earnings for the year, potentially a significant cost.
  
• For certain SMSFs, the deed may permit a strategic use of contribution reserves. This can allow a contribution of $60,000 in June, with $30,000 allocated to the member’s account this year and $30,000 the following year—doubling the deduction in the current financial year. This strategy requires care and compliance, but can dramatically reduce tax liabilities.

4. Pre-Pay Investment Loan Interest

If you are using borrowing as part of your investment strategy, this is a good time to speak with your adviser and lender.

By fixing your loan interest for 12 months and pre-paying it before 30 June, you can:

• Lock in the deduction for this financial year
  
• Gain certainty of repayments
  
• Potentially benefit from lower effective interest cost if income is unusually high this year

While interest rates may fall over the next year, the tax efficiency of prepayment may still outweigh the interest saving, particularly if you are on the highest marginal tax rate.

5. Annualise and Pre-Pay Income Protection Insurance

Another EOFY tactic often overlooked: annualising and pre-paying your personally held income protection insurance premium.

If you pay the premium in full before 30 June:

• You can bring forward the tax deduction into this year (helpful if your income is higher than usual)
  
• Most insurers offer a one-month discount (typically 8.33%) for annual payment

This strategy aligns cash flow and insurance deductions to reduce tax in a high-income year.

EOFY Is the Time to Think Holistically

All these strategies have something in common: they’re about bringing your financial planning together. EOFY is more than a checklist—it’s an annual milestone to tighten your plan, reduce inefficiencies, and accelerate your goals.

Want to Tie Your EOFY Strategy Together Before 30 June?

At Lighthouse Financial Group, we work with high-income professionals, business owners, and time-poor couples to bring together every piece of the financial puzzle—from super contributions and SMSF planning to insurance, investment structuring, and estate coordination.

EOFY 2025 is your opportunity to act strategically, not reactively.

We can help you assess your position, explore tailored opportunities, and implement a comprehensive plan that makes the most of this critical deadline.

📞 Contact Lighthouse Financial Group today to discuss your EOFY 2025 strategy.

Lighthouse Financial Group Pty Ltd, Authorised Representative 000287794 ABN 221 13 759 952 is a corporate authorised representative of Fortnum Private Wealth Ltd ABN 54 139 889 535 AFSL 357 306. The information contained within this article does not consider your personal circumstances and is of a general nature only. You should not act on it without first obtaining professional financial advice specific to your circumstances.