FY25 Tax planning and Strategies Individuals

As 30 June 2025 is fast approaching, we have prepared some information which may assist you with some tax planning options. Taking advantage of some of these options may put you in a better taxation position this year

By bringing forward allowable deductions to 2024–25, you benefit from reducing your tax bill at a higher rate per dollar.

If you are under the age of 75, you are able to salary sacrifice tax-deductible contributions from your employer up to the tax-deductible cap of $27,500.

An opportunity is available to you if you have less than $500,000 in super and you want to claim a tax deduction higher than the cap of $27,500. However, a specific limit will apply to you based on how much deductible super contributions has gone into your account over the past 5 years. The additional deductible contributions may give you a deduction at this year’s higher marginal tax rate.

You may be able to claim a deduction for your personal super contributions that you have made you your eligible super fund from your after-tax income. You will need to complete a notice of intent and the funds need to be received by the super fund prior to 1 July 2025