EOFY 2026: what to actually do with your super and tax before 30 June.
You have until Tuesday 30 June 2026 — realistically, until about 23–25 June, because contributions must be received by your fund, not just sent. The concessional super cap is $30,000, unused cap from 2020-21 expires forever this year, the new Division 296 tax on balances above $3 million starts 1 July, and a personal tax cut from 1 July makes this year's deductions worth slightly more than next year's. Here's the checklist, in the order I'd run it.
Every June the same thing happens: people remember super exists, the fund processing queues blow out, and someone rings me on 29 June asking if they can still get a contribution in. (Usually: no.)
This year the stakes are a little higher than usual, for three reasons that are specific to EOFY 2026. So before the generic checklist, here's what's different.
Why this EOFY is different
1. Your 2020-21 carry-forward cap expires on 30 June
Unused concessional cap amounts can be carried forward for five financial years — then they're gone. On 30 June 2026, any unused cap from 2020-21 (when the cap was $25,000) disappears permanently. If your total super balance was under $500,000 at 30 June 2025 and you have unused amounts sitting there from that year, this is the last financial year you can ever use them. Log into myGov → ATO → Super → Carry-forward concessional contributions to see your exact figure.
2. Division 296 starts 1 July 2026
The new tax on large super balances passed Parliament in March 2026 and commences 1 July 2026. In short: an additional 15% tax on the proportion of earnings attributable to total super balances above $3 million, and 40% above $10 million. The final version does not tax unrealised gains, and the first balance test date is 30 June 2027 — so nobody needs to do anything rash before this 30 June. But if you're near the threshold, the planning conversation (contribution strategy, asset location, whether super is still the right vehicle for the marginal dollar) should happen this year, not next May.
3. A deduction this year beats the same deduction next year
From 1 July 2026, the 16% rate on income between $18,201 and $45,000 drops to 15% (and 14% the year after). Lower future tax rates mean deductions are worth marginally more now than later. The effect is small for most people — but if you were on the fence about prepaying something deductible, this tips it toward doing it before 30 June.
The numbers that matter for 2025-26
| Item | 2025-26 figure | Watch out for |
|---|---|---|
| Concessional (before-tax) cap | $30,000 | Includes employer SG — now 12% of wages, which eats more of the cap than people expect |
| Non-concessional (after-tax) cap | $120,000 | Bring-forward of up to $360,000 may be available; cap is nil if your balance exceeded $2m at 30 June 2025 |
| Carry-forward eligibility | Balance under $500,000 at 30 June 2025 | 2020-21 unused cap expires 30 June 2026 |
| Government co-contribution | Up to $500 | Income under $62,488; full amount at lower incomes |
| Spouse contribution offset | Up to $540 | Spouse income under $37,000 for the full offset; cuts out at $40,000 |
The deadline that actually matters: your contribution must be received and allocated by your fund by Tuesday 30 June 2026 — not "sent on the 30th". BPAY and EFT can take three or more business days, and June is the busiest week of the fund's year. Treat Tuesday 23 June as your real deadline. A contribution that lands 1 July counts against next year's cap, and there's no appeal process for "but I paid it on the 29th".
The checklist, in order
1. Check what's already gone in
Before you top up, find out where you stand. Your employer's 12% SG contributions count toward the $30,000 concessional cap, and the final quarter's contributions may not hit your account until after 30 June. Check your fund's transaction history and your myGov super record before writing a cheque you don't have room for — exceeding the cap creates paperwork and extra tax, not extra wealth.
2. Top up concessional contributions (if it makes sense)
A personal deductible contribution is taxed at 15% inside super instead of your marginal rate. If you're paying 32% or 39% (plus Medicare) on your top dollars, the arithmetic is compelling — particularly if you have capacity left under this year's cap or expiring carry-forward amounts from 2020-21.
3. Lodge the Notice of Intent — and get the acknowledgement
The single most common EOFY mistake I see. To claim the deduction for a personal contribution you must lodge a Notice of Intent to Claim (s290-170 form) with your fund and receive their written acknowledgement before lodging your tax return. No acknowledgement, no deduction. Do this at the time you contribute, not in October when your accountant asks.
4. Small-balance boosters: co-contribution and spouse offset
If you (or your spouse, or your adult kids early in their careers) earn under $62,488, a $1,000 after-tax contribution can attract up to a $500 government co-contribution — a guaranteed 50% return. And if your spouse earns under $37,000, contributing $3,000 to their super puts up to $540 back in your pocket via the tax offset. Small numbers, but they're free money with a 30 June expiry.
5. Review capital gains and losses
If you've realised capital gains this financial year, look at whether any underperforming investments genuinely no longer deserve their place — realising a loss before 30 June can offset gains made this year. One warning: selling purely for the tax loss and buying back the same asset days later is a "wash sale", and the ATO treats it as tax avoidance. The investment decision has to be real.
6. Prepay deductible expenses
Income protection premiums held outside super, up to 12 months of interest on an investment loan, deductible subscriptions and memberships — prepaying before 30 June brings the deduction into this year, where (see above) it's worth slightly more than it will be next year. Donations of $2 or more to deductible gift recipients also belong here.
7. If your balance is anywhere near $3 million — start the planning this year
Division 296 doesn't bite until the 30 June 2027 test date, but the right responses — restructuring contributions, reviewing asset location between super and other structures, estate planning implications — take months to think through well, not weeks. There's no need to rush anything before this 30 June; the 2026-27 year is the planning window.
EOFY is the deadline for contributions — not for advice.
If this article raises questions about your own situation, there's nothing here that can't be planned properly after 30 June. Get in touch and we'll pick it up when the dust settles.
Get in touchFrequently asked questions
What is the concessional super cap for 2025-26?
$30,000 — including employer SG (12%), salary sacrifice and personal deductible contributions. Carry-forward amounts from the previous five years may be available if your balance was under $500,000 at 30 June 2025.
When do super contributions need to be made for EOFY 2026?
Received by your fund by Tuesday 30 June 2026. Because transfers take days and June queues are long, aim for 23–25 June at the latest.
What expires on 30 June 2026?
Any unused concessional cap carried forward from 2020-21 — the five-year window closes. Also the last day to bring deductions into the higher-rate 2025-26 year, and the last day for 2025-26 co-contribution and spouse-offset eligibility.
Does the new $3 million super tax (Division 296) affect this EOFY?
Not directly — it applies from 1 July 2026 with a first balance test at 30 June 2027, and it doesn't tax unrealised gains. But if you're near $3 million, the planning should start this year.
Is it worth contributing to super just before 30 June?
Often, yes — a deductible contribution swaps your marginal tax rate for 15% inside super. But it depends on your cap space, cash needs and age — it's a personal advice question, so check before you contribute rather than after.
What's the most common EOFY mistake?
Making a personal contribution and forgetting the Notice of Intent to Claim (s290-170). Without the fund's written acknowledgement before you lodge your return, the ATO denies the deduction.