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How Australians Can Still Maximise Their 2025 Tax Return
With the June 30 deadline looming, many Australians may assume the window for effective tax planning has closed. But according to H&R Block’s Mark Chapman, there are still high-impact, ATO-approved money moves available to individuals and small businesses — if they act now.
Here are seven strategic ways to reduce your taxable income and boost your refund before the 2025 financial year ends.
1. Leverage the $20,000 Instant Asset Write-Off (While You Can)
If you run a small business (turnover under $10 million), you’re eligible to immediately deduct the full cost of eligible assets up to $20,000 per item. This includes:
- Computers, tablets, and smartphones
- Office furniture and fittings
- Work tools and equipment
Key Rule:
Assets must be installed and ready for use by June 30 — mere payment isn’t enough. If the item arrives in July, you miss the deduction for this year.
Update:
The federal government extended the $20K threshold to June 30, 2026, before it drops back to just $1,000.
2. Prepay Eligible Expenses
If you’ve got spare cash, prepaying expenses before EOFY can bring next year’s deductions into this year’s return. Examples include:
- Union or membership fees
- Professional subscriptions
- Income protection insurance
- Annual business services
This tactic works well for both employees and sole traders looking to bring forward deductions.
3. Make a Tax-Deductible Super Contribution
You can make a personal concessional contribution to your super fund and claim it as a deduction — just ensure:
- Total contributions (employer + personal) stay under the $30,000 cap
- Your contribution lands in your super account by June 30
- You submit a Notice of Intent to Claim form before lodging your return
This is one of the few ways to cut your tax bill today while boosting your retirement nest egg.
4. Offset Capital Gains With Strategic Losses
Sold shares or crypto at a profit this year? Review your portfolio for assets sitting at a loss. Selling them before June 30 lets you offset those losses against your gains.
Caution on “Wash Sales”:
The ATO frowns on selling a loss-making asset on June 30 and repurchasing it on July 1. This practice, known as a “wash sale,” can trigger anti-avoidance penalties under ATO ruling TR 2008/1.
5. Maximise Work-from-Home Deductions
Whether you’re remote full-time or hybrid, you can claim:
- Utilities: heating, lighting, air-con
- Home office furniture depreciation
- Phone & internet costs
- Stationery, ink, and consumables
Two claim options:
Actual cost method
→ Requires precise records and work-use percentages
Fixed-rate method (67¢ per hour)
→ Requires a diary, logbook, or roster for the full year
Tip: Choose the method that gives you the highest return — and be ready with evidence.
6. Log Every Charitable Donation
Donations over $2 to a registered charity are deductible — but receipts are a must. It’s an easy win for EOFY if you haven’t already maxed out your giving for the year.
7. Keep Every Piece of Written Evidence
The golden rule? No receipt = no deduction. Collect and file:
- Invoices
- Bank statements
- Credit card records
- Purchase orders
Digital or physical, your paperwork is your best audit defense — and the key to claiming what you’re entitled to.
Get Help Before You Lodge
Working with a registered tax agent like H&R Block ensures you:
- Catch every available deduction
- Avoid ATO red flags (especially for capital gains and work-from-home claims)
- Maximise your refund legally and efficiently
Takeaway
The ATO is watching — but so is your opportunity. With just weeks until June 30, these seven strategies can mean the difference between a basic refund and a truly optimised return. Whether you’re an employee, investor, freelancer, or business owner, there’s still time to shape your 2025 tax story — but only if you act now.
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