Year-end Planning 2026
With 30 June fast approaching, now is the critical time to address your end-of-financial-year (EOFY) tax planning.
Several major legislative changes are taking effect, and proactive planning before year-end can significantly impact your tax position. Here are three key areas to action immediately:
- Trust Resolutions & Bad Debts: Trust distribution resolutions must be signed, and any bad debts must be officially written off your ledger before 30 June.
- Superannuation Strategies: Maximize your 2026 contribution caps ($30,000 concessional). If your balance exceeds $3 million, you must also prepare for the new Division 296 tax taking effect.
- Business Deductions: Take advantage of the $20,000 Instant Asset Write-off (assets must be installed and ready for use by 30 June) and consider prepaying eligible 2027 expenses.
We have attached a comprehensive 2026 Year-End Planning Guide to help you navigate these opportunities and compliance deadlines.
Please reach out to your Hall Chadwick advisor today to ensure your strategies are in place before the deadline.