EOFY Isn’t Over Yet: Key Tax-Time Reminders
General
| July 30, 2026
Key Tax-Time Reminders
As we move into tax return season, many Australians are gathering documents and preparing to lodge their returns. While the financial year has ended, there are still several important steps that can help ensure you maximise your available tax benefits and avoid unnecessary delays.
Here are some key reminders from our team.
1. Don’t Forget Your Notice of Intent (NOI) to Claim a Tax Deduction
If you made personal after-tax contributions to your superannuation during the 2025/26 financial year and wish to claim a tax deduction, you must submit a Notice of Intent (NOI) to Claim or Vary a Deduction to your super fund.
Many people incorrectly assume their contribution automatically becomes deductible. It doesn’t.
To successfully claim a deduction:
- Submit your NOI form to your super fund
- Receive written confirmation from the fund
- Retain the acknowledgement for your records
- Ensure this is completed before lodging your tax return (or before certain super transactions such as rolling over your balance)
Failing to submit an NOI can mean missing out on a valuable tax deduction altogether.
Tip: If you’re unsure whether an NOI is required, contact our office before lodging your return.
2. Obtain Your Income Protection Tax Statement
If you hold income protection insurance outside of superannuation, or pay premiums through a separately owned policy, you may be entitled to a tax deduction for eligible premiums.
Before lodging your return, make sure you have:
- Your annual income protection insurance statement
- Confirmation of premiums paid during the financial year
- Documentation from your insurer or adviser
Remember that only income protection premiums are generally tax deductible. Premiums relating to life, TPD and trauma insurance are generally not deductible when owned personally.
3. Claim Your WA $100 Fuel Support Payment
Western Australian residents should also be aware of the State Government’s $100 Fuel Support Payment, designed to assist with cost-of-living pressures and rising transport costs. Eligible WA driver’s licence holders can claim a one-off $100 payment, which is paid directly into their bank account.
To be eligible, you generally must:
- Hold a valid WA driver’s licence (including learner, provisional and extraordinary licences)
- Have a WA residential address
- Have an Australian bank account
- Submit your claim before the closing date of 31 December 2026. [wa.gov.au]
The quickest way to claim is through the ServiceWA app, with payments generally processed within 5 to 7 business days. If you do not have the app, you can use an online form or complete the manual application.
While this payment is not taxable income and does not form part of your tax return, it is a worthwhile government benefit that eligible Western Australians should take advantage of.
Tip: If your household has multiple eligible licensed drivers, each eligible person may be able to claim their own $100 payment
4. Check Your Super Contribution Caps
Now that we have entered a new financial year and contribution caps have changed, it is an excellent time to confirm your 2026/27 super contribution strategy.
Review:
- Employer Super Guarantee contributions
- Salary sacrifice contributions
- Personal deductible contributions
- Spouse contributions
- Government co-contributions
Exceeding contribution caps can result in additional tax and administrative complications.
For many Australians, carrying forward unused concessional contribution caps from previous years may also create additional planning opportunities.
5. Review Capital Gains and Investment Income Records
If you’ve sold investments, property, managed funds or shares during the year, ensure you have retained:
- Contract notes
- Purchase and sale dates
- Cost base information
- Distribution statements from managed funds and ETFs
Many investors receive tax statements from fund managers several weeks after 30 June. Lodging too early can increase the likelihood of requiring an amendment later.
6. Confirm Your Private Health Insurance Statement
If you have private health insurance, ensure your tax agent receives your annual health fund statement.
This information assists with:
- Medicare Levy Surcharge calculations
- Private Health Insurance Rebates
- Accurate tax return preparation
Most health funds provide this information directly to the ATO, but it is still worth checking that records are correct.
7. Consider Making a Tax Refund Work Harder
For many Australians, the tax refund represents one of the largest lump-sum payments they receive each year.
Instead of letting it disappear into day-to-day spending, consider whether part of your refund could be used to:
- Reduce your mortgage
- Build an emergency fund
- Make a super contribution
- Pay down non-deductible debt
- Invest toward long-term goals
A tax refund can provide a useful opportunity to strengthen your overall financial position.
Final Thoughts
Tax time is about more than simply lodging a return. It’s an opportunity to ensure you’ve captured all available deductions, maintained accurate records and reviewed your broader financial strategy.
If you’ve made super contributions, hold income protection insurance, received investment income or simply want to ensure you’re making the most of available opportunities, we’re here to help.
Need assistance with your EOFY planning or tax-time questions? Contact our team and we’ll help ensure you’re on track for a successful start to the new financial year.
