Careful planning and timing are always important when taxation is concerned. To help inform clients, we have prepared this checklist which you may find helpful in planning your year-end tax strategies. This document is not exhaustive, and your individual circumstances must be considered.
Please contact your StewartBrown Manager or Partner should you need any assistance with understanding or applying any of the information contained below.
Overview
Here’s a quick summary of what to consider for yourself and your business before the end of the financial year.
- Superannuation (in pension phase). Ensure minimum pension amounts have been withdrawn before 30 June.
- Superannuation Guarantee to increase from 11.5% to 12% on 1 July 2025.
- Trustees of discretionary trusts. You are required to document your annual distribution decision before 30 June.
- Personal tax rates.
- Company tax rate is 25% and remains at 25% in 2025. (Base rate entities only).
- Improved and expanded asset write-off incentives still apply. The Government has extended this measure to 30 June 2025. From 1 July 2025 the threshold reduces back to $1,000.
- Cryptocurrencies and digital assets. The Australian Taxation Office (ATO) has access to extensive data from exchanges and service providers that can easily match transactions to clients.
Click here to view or download StewartBrown's Year End Tax Planning Checklist for the year ending 30 June 2025.
