Maximise Your Deductions Before Year-End – Practical Tax Planning Tips for 2025

As the financial year draws to a close, it's essential for individuals and businesses to take a strategic approach to minimise taxable income and ensure compliance. Whether you're a growing Australian business, an expat managing cross-border obligations, or an offshore company operating in Australia, there are key tax planning moves you can make now to set yourself up for success—and avoid unnecessary tax liabilities.

At Worldwide Advisory, we specialise in helping clients unlock smart, effective strategies before June 30. Here's how you can optimise your tax position with confidence.

For Aussie Expats: Take Charge Before the EOFY Deadline

1. Maximise Super Contributions Before Departure or Re-entry

If you're planning to cease tax residency or return to Australia, now is the time to review your superannuation position. Making concessional (pre-tax) contributions before the deadline can reduce your assessable income and potentially lower your tax bill. For expats re-entering Australia, it's crucial to consider how additional super contributions will be taxed upon return.

2. Review Capital Gains Tax (CGT) on Departure

If you're ceasing Australian tax residency, assess whether you're exposed to CGT on assets like shares, crypto, or even your main residence. Pre-June 30 is the window to decide whether to defer or trigger CGT—decisions that can significantly affect your future tax position.

3. Claim Deductible Expenses

As a non-resident, you may still have Australian-source income—such as rent, dividends, or trust distributions. Ensure all allowable deductions are claimed, including property management fees, maintenance costs, and loan interest for investment properties.

4. Audit-Proof Your Finances

ATO scrutiny on foreign income and offshore assets is increasing. Lodging accurate, well-documented returns helps avoid costly audits. Now is the time to review compliance on rental property income, foreign salaries, and any undeclared overseas bank interest.

For Offshore Businesses: Reduce Exposure and Maximise Efficiency

1. Prepay Deductible Business Expenses

Prepaying rent, insurance, or professional fees for the next 12 months can bring forward deductions and reduce your current year tax. This is particularly useful for inbound businesses looking to reinvest and grow their local footprint.

2. Review Transfer Pricing Arrangements

If you're transacting with related entities overseas, ensure your transfer pricing documentation is current. Failing to substantiate pricing models before year-end may expose your business to penalties and adjustments.

3. Consider Withholding Tax and GST Obligations

Businesses paying non-residents for services or royalties must review their withholding tax obligations. Additionally, cross-border service providers should reassess GST on SaaS and digital platforms to avoid surprise liabilities.

4. Avoid Permanent Establishment (PE) Traps

Be mindful of activity that may trigger a PE in Australia. If your overseas business has staff, agents, or contracts executed locally, a tax presence could be inadvertently established. Reviewing operational structures before year-end helps manage this risk.

Universal Tips: Whether You're Local or Global

Maximise Available Offsets and Rebates

Explore eligibility for small business income tax offsets, R&D tax incentives, and temporary full expensing (if applicable). Every deduction counts toward reducing your tax payable.

Reconcile PAYG, BAS, and Super Obligations

Before June 30, confirm that all payroll, superannuation, and tax payments are up to date. Businesses behind on their obligations may lose deductibility for late payments or trigger ATO flags.

Plan for the Next Financial Year

Use this period to reassess your structure—especially if you’re expanding, relocating, or launching a new venture. Whether it's setting up a discretionary trust, changing ownership structures, or registering for GST, proactive planning delivers long-term savings.

Need Expert Advise Tailored to Your Situation?

At Worldwide Advisory, we offer expert tax planning services designed for:

• Australian expats navigating complex residency and foreign income rules

• Offshore businesses entering or operating in Australia

• Local businesses aiming to reduce tax exposure and maximise compliance

Don't wait until June 30. Take action today to reduce your tax burden and build a smarter financial strategy.

Call us on +617 3180 1684 or email contact@worldwideadvisory.au to book your year-end tax planning consultation.