2026 EOFY Countdown: Personal Tax Planning for High Earners

Last Updated: April 2026

The period between April and June is the golden window for personal tax planning for high-income employees and investors in Australia. Once the clock strikes midnight on June 30, the legal actions you can take to minimize your tax are severely limited. Instead of staring at a massive tax bill in July, take these highly effective strategies right now to bring down your taxable income.

1. Utilize the Superannuation "Catch-up" Concessional Contributions

This is arguably the most powerful tax-minimization tool for high-income earners. Normally, your concessional (before-tax) contribution cap is $30,000 per year (this includes the SG your employer pays). Money entering your super fund under this cap is taxed at a flat rate of just 15%, which is significantly lower than the 30% to 45% marginal tax rates most high earners face.

The Strategy: If you haven't maxed out your cap over the last 5 years, and your total super balance is under $500,000, you can use the "Carry-forward" rules. This means you could potentially dump tens of thousands of dollars of accumulated unused caps into your super before June 30 as a lump sum, claiming a massive personal tax deduction this financial year!

Super Catch-up Tax Savings Estimator

Instead of paying high marginal tax, how much cash do you actually "save" by putting it into Super? Adjust the sliders below. (Applies latest 2025/26 tax rates, including Medicare levy).

If you do nothing (Full Income Tax)

$44,928

With Contribution (Income Tax + 15% Super Tax)

$40,128

Net Tax Saved (Total Benefit): $4,800

Division 293 Tax Warning

If your combined income and concessional super contributions exceed $250,000 in a financial year, you will trigger Division 293 tax. This means you will pay an additional 15% tax (30% total) on your super contributions up to the cap. However, because 30% is still substantially lower than the top marginal tax rate of 47%, maximizing super contributions is generally still a highly effective strategy.

2. Pre-paying Deductible Expenses

If you own an investment property or a margin loan, bringing forward expenses that relate to the next 12 months and paying them before June 30 allows you to claim the deduction in the current financial year. This is incredibly effective if your income happens to be unusually high this year:

  • Investment Property Costs: Pre-pay next year's strata levies, council rates, landlord insurance, or water rates.
  • Fixed Rate Loans: Many banks allow you to pre-pay a full year of interest in advance on investment property loans or margin lending facilities.

3. Tax-Loss Harvesting (Capital Gains)

If you've sold high-performing shares or properties earlier this year and realized a massive Capital Gain, you are facing a hefty CGT bill.

Now is the time to review your portfolio. If you hold shares or cryptocurrencies that are sitting at a significant loss and you don't believe they will rebound soon, you can sell them before June 30. By "crystallizing" these losses, they can be directly offset against your capital gains, drastically lowering your taxable income. (Note: The ATO prohibits "Wash Sales" — selling a losing stock and immediately buying it back just for the tax benefit.)

Take Action Now: Many of these strategies (especially Super contributions) require several days for funds to clear. Don't wait until June 29! Contact Loyal Bright Accountants today to book your EOFY Personal Tax Planning session and secure your tax refund.

← Back to all FAQs