Five Key Financial Moves to Consider Before June 30

As we approach the end of the financial year, now is the perfect time to review your financial strategy and ensure you’re making the most of every opportunity available. Whether you’re looking to optimise your superannuation, fine-tune your investments, or make a meaningful impact through philanthropy, these five actions can help set you up for continued success.

1. Maximise Concessional Super Contributions

Superannuation remains one of the most tax-effective ways to build wealth for retirement. This year, the concessional (pre-tax) contributions cap is $30,000, and you may be able to contribute even more if you have unused cap amounts from the past five years (carry-forward rule). Consider salary sacrifice or making a personal deductible contribution before 30 June. Not only can this boost your retirement savings, but it may also reduce your taxable income.

2. Utilise the Non-Concessional Contribution Cap

If you’ve maximised your concessional contributions and want to further grow your super, non-concessional (after-tax) contributions are worth considering. The standard cap is $120,000, but if you’re under 75 and meet eligibility criteria, the bring-forward rule could allow you to contribute up to $360,000. This can be a powerful way to accelerate your retirement savings, particularly if you’ve recently sold an asset or received an inheritance.

3. Rebalance and Review Investments

Market movements over the past year may have shifted your portfolio away from your preferred asset allocation. Now is a great time to review your investments, assess your risk profile, and rebalance if necessary. This ensures your portfolio remains aligned with your goals and risk tolerance, and can also provide an opportunity to realise capital gains or losses in a tax-effective manner.

4. Philanthropy with Impact

Charitable giving remains a powerful tax strategy. Consider whether direct donations or structured giving—such as establishing a Private Ancillary Fund (PAF)—align with your broader financial legacy goals. These options allow you to support causes important to you while achieving meaningful tax outcomes.

5. Meet Minimum Pension Requirements

If you’re drawing an income stream from your super, it is important to ensure you’ve met the minimum pension withdrawal for the financial year. Missing the required minimum can result in your pension reverting to accumulation phase—potentially triggering unnecessary tax within the fund. It’s a simple but critical check at this time of year.

Make the Most of This Financial Year A proactive approach now can set you up for a smoother tax time and a stronger financial future. If you’d like to review any of these strategies or ensure you’re on track, we’re here to assist.