Tax Planning Outside EOFY: What You Can Do Now for a Smoother 2026

(Because waiting until June means you may miss the best opportunities)

We often associate tax planning with the frantic rush to 30 June. But the smarter move is to start before the scramble begins. By acting now, in the quieter months, you can optimise your strategy, reduce your stress and position your finances for a stronger 2026.

Keep reading, we’ll walk through why tax planning outside the traditional EOFY season matters, the key strategies you can deploy today, and how this ties into your broader wealth plan. Whether you’re an employee, investor or business owner, there’s something here for you.

Why Planning Outside EOFY Actually Gives You an Advantage

Waiting until April, May or June to think about tax is like waiting until peak hour to plan your commute: it’s crowded, stressful and often sub‑optimal. Here’s why starting earlier matters:

• More strategic flexibility: When you’re not racing the clock, you can model scenarios, test options and make considered moves
• Reduced risk of surprise cost: Last‑minute planning holds fewer options and higher risks of missing deadlines or paying more. Professionals highlight that tax planning should be year‑round, not just at EOFY.
• Compound benefits: Tax‑effective moves today can magnify over the years; it’s not just about one year’s return
• Life changes happen all year: Pay rises, investment gains, business changes and job losses. Each can influence tax, yet they often go unreviewed until June.

In short: the earlier you act, the more power you have. Ironically, it becomes a much smoother process, one that is no longer fraught with panic and paperwork.

Four Key Tax‑Planning Areas to Focus On Now

Below are actionable areas you can review in the next month or two, with steps you can take now.

Superannuation Contributions & Caps

Your super is one of the most tax‑effective vehicles available in Australia. Still, many leave it unattended until the last minute. Some key points:

• Concessional (pre‑tax) contributions are taxed at 15%, often lower than your marginal rate
• If your super balance is under $500,000, you may carry forward unused caps and make catch‑up contributions.
• Consider topping up your super early, not just at the next EOFY, to spread the load and improve cash flow.

Action step: Check your current super balance and contribution history. Decide if you can comfortably allocate extra contributions this year (even modest amounts add up).

Timing Income & Deductions

When income and expenses fall within the financial year, it can shift your tax liability. Because tax is calculated on yearly income, brilliant timing can matter.

• If you expect your income to be lower next year, you might defer income into that year.
• Conversely, you might bring forward expenses (such as subscriptions, insurance and professional fees) so you can claim deductions earlier. Some prepayments are deductible if the service period is less than 12 months.
• Capital Gains Tax (CGT) planning: If you hold assets, consider when to sell; holding for 12 months or more gives access to the 50% CGT discount for eligible personal assets

Action step: List known significant expenses or income events (bonuses, asset sales and investment property costs) and model how shifting their timing might affect tax.

Investment & Property Considerations

If you own property or investments, tax effects can be substantial. Some relevant strategies:

• Ensure claimable deductions (interest, depreciation and repairs) are properly recorded
• For property owners: prepaying insurance, rates, or loan interest can accelerate deductions.
• Be aware of negative gearing, CGT and structure issues: many Australians misunderstand them.
• Review how your investment income fits with your overall tax bracket; sometimes restructuring or timing is key.

Action step: Review your investment properties/assets now to confirm that repairs and deductible expenses are accurately tracked. Then, discuss with a trusted adviser whether any strategic moves make sense before year-end.

Review Your Structure, Insurance & Estate‑Planning

Tax is only one piece of the puzzle. Your overall financial framework, including your structure, protection, and estate plan, significantly influences tax outcomes.

• If you run a business, is your entity structure still optimal, including trust vs company vs sole trader and any Division 7A obligations
• Insurance premiums (for income protection, life) may be deductible, but only if they are still valid for your occupation and income.
• Estate issues: ensuring your assets, structures and investments fit your long‑term plan avoids penalties or surprises

Action step: Schedule a “tax and structure audit” this month. Ask your adviser or accountant: “Are we set up for 2026 in the best way?”

Making a Simple Plan For Now

Here’s a streamlined plan you can follow over the next 4-6 weeks to get ahead of taxes next year:

• Gather your recent relevant numbers: income, tax paid, super balance, investment values, and debts
• List upcoming known financial events: asset sales, bonuses and large expenses.
• Meet with your adviser/accountant to review the data and identify flexible opportunities.
• Prioritise two actions you can complete this year: e.g. increase super contribution, prepay an expense or review your structure.
• Set reminders for periodic review: tax planning isn’t a one‑time event. Mark your calendar for the quarterly check‑ins.

This isn’t about perfection, it’s about progress. Even modest early moves can build momentum for 2026.

Why Everyday Australians Should Care

You might think “tax planning is for business or high net worth only.” But the reality is that everyone benefits:

• You reduce your tax bill, freeing up more after‑tax cash for lifestyle, savings or investment
• You avoid surprises that hit in January when budgets are tight.
• You build a habit of thinking ahead, which supports all areas of your wealth plan.

Research shows that Australians who use structured tax-planning tools feel around 28% more confident about their finances.

By acting now, you’re not just reacting to taxes; you’re shaping your financial year. And that shift in mindset alone can change the trajectory of your wealth.

Real Life Example: Jane and the Unexpected Bonus

Jane works in the tech industry. In April, she was informed of a possible bonus to be paid in June. Instead of passively waiting, Jane spoke with her accountant in May.
They decided to defer the bonus payment to early July, because she anticipated her income might drop in 2026 due to a planned industry shift.

By deferring the $20,000 bonus, Jane moved a large amount of income into a year with lower tax, reducing her overall tax bill and smoothing her cash flow. It wasn’t about “avoiding tax”, it was about timing tax in alignment with her broader plan.

Tax Planning Isn’t Reactive. It’s Purposeful.

Tax season doesn’t begin in April and end in June. It’s a 12-month cycle of strategy, timing and structure. By taking action now, you put yourself ahead. You build clarity. You avoid cost. You create options.

At Ryker, we believe the best financial moves are made outside the rush. When you have time to think, assess, and act, if you’re ready to set yourself up for a smoother 2026, let’s talk.

Book your tax‑planning review today and let’s make sure your plan is aligned, forward-thinking and ready for what’s next.