Below is a practical, Australia-focused tax‑planning checklist you can use this financial year. It covers common strategies, timing issues and traps to avoid. I’m citing ATO guidance for the main, changeable rules (super caps, CGT, small‑business concessions, recordkeeping and deductions).

High‑level priorities

• Know your residency status for tax — it determines which income and capital gains are taxed in Australia. (See ATO guidance when unsure.)
• Plan around the financial year: 1 July – 30 June. Actions that affect the year a deduction or contribution is claimed often depend on when money is received by a fund or paid to a supplier. (ATO.gov.au)

Individual tax strategies

• Maximise deductible super (concessional) contributions where it makes sense: concessional cap is $30,000 for 2024–25 (includes employer SG and salary‑sacrifice). Excess concessional contributions can attract extra tax. Use carry‑forward unused caps if eligible. (ATO.gov.au)
• Use non‑concessional (after‑tax) contributions carefully: the annual cap is $120,000 (from 1 July 2024) and bring‑forward rules may let you contribute multiple years up front — but watch total super balance limits. (ATO.gov.au)
• Salary sacrifice vs higher take‑home pay: salary sacrifice into super reduces taxable income but counts toward concessional caps and may trigger Division 293 tax if your income + concessional contributions exceed the Division 293 threshold. Check employer timing so contributions are received by the fund in the year you intend. (ATO.gov.au)
• Consider after‑tax contributions/co‑contribution if you’re low‑to‑middle income — the government co‑contribution and LISTO may apply (check current thresholds on the ATO site). (ATO.gov.au)
• Time asset sales for CGT outcomes: individuals and trusts may be eligible for a 50% CGT discount when an asset is owned for at least 12 months (subject to residency and exclusions). Holding an asset past the 12‑month mark can materially reduce tax on gains. (ATO.gov.au)
• Be cautious with property and “business‑like” activity: if the ATO classifies activity as a property business, different rules may apply and CGT discounts can be denied — get advice if you operate at scale. (ATO.gov.au)

Small business / investor considerations

• Small business concessions and timing: use ATO small business toolkits to identify immediate deductions, simplified depreciation (instant asset write‑offs/temporary full expensing where applicable) and small‑business CGT concessions. Confirm eligibility thresholds (turnover or aggregated turnover) before relying on concessions. (ATO.gov.au)
• Structuring and trusts: a trust can flex distributions between beneficiaries to manage tax, but you must follow legal/trust deed requirements and consider compliance, anti‑avoidance and Division 7A rules. Seek specialist advice before changing structure.
• GST and BAS: if turnover ≥ $75,000, register for GST; keep BAS reporting timely to avoid penalties. The ATO provides lodgment timetables for tax agents and businesses. (ATO.gov.au)

Deductions, recordkeeping and lodgment

• Only claim substantiated, work‑related and business expenses that are directly related to earning assessable income. Keep receipts, invoices and records for five years (or as required by the ATO). Use myDeductions/ATO app to pre‑fill and track. (ATO.gov.au)
• Home office: claim a reasonable portion (either fixed rate or actual costs) supported by contemporaneous records. Don’t double‑claim. (ATO.gov.au)
• If lodging via myTax or a tax agent, prefill data and review ATO prefilled items carefully; mismatches may delay assessment. (ATO.gov.au)

Timing and year‑end moves (practical examples)

• Super contributions: to claim a deduction or use a particular year’s cap, ensure the contribution is received by the super fund by 30 June (or meets the relevant rule for counting). Confirm processing times if paying through a clearing house. (ATO.gov.au)
• Sell assets after the 12‑month ownership mark if you expect a capital gain and want the 50% discount. Conversely, realise capital losses in the same year as large gains to offset them. (ATO.gov.au)
• If you run a small business, review eligible instant deductions/depreciation and BAS timing well before 30 June; ATO guidance and the small business toolkit explain options. (ATO.gov.au)

Risks, anti‑avoidance and compliance

• The ATO actively reviews aggressive schemes and arrangements that are tax‑avoidance. Be wary of “too good to be true” arrangements, contrived trust distributions, or schemes that recharacterise income without commercial substance. Penalties and interest can be severe. (ATO.gov.au)
• If you’re uncertain about classification (employee vs contractor, investment vs business), get written advice because ATO re‑characterisation can change past tax positions and attract penalties.

Next steps I recommend

1. Estimate your 2024–25 taxable income and likely capital gains/losses.
2. Check your total super balance and unused concessional cap amounts in ATO online services. (ATO.gov.au)
3. Make any final‑year super contributions (salary sacrifice or personal deductible) early enough to arrive in the fund before 30 June. (ATO.gov.au)
4. If you have rental or investment property issues, or are considering restructuring, talk to a registered tax agent or specialist adviser — structural mistakes are costly and difficult to unwind. (ATO.gov.au)

Important: I’m providing general information, not personalised tax advice. Tax law and thresholds change; for actions that will materially affect your tax position (major super contributions, selling assets, changing structure or starting/stopping a business), consult a registered tax agent or an accountant with current knowledge of ATO practice and recent legislative changes.

If you want, I can:

• produce a short checklist tailored to your situation (employee vs contractor, investment property owner, small business owner), or
• estimate tax‑savings opportunities for a specific scenario if you give me income, expected capital gains/losses, super balance and business turnover.

Key ATO references I used

• ATO individual/myTax and completing your return guidance. (ATO.gov.au)
• ATO small business tax time toolkit and lodgment program. (ATO.gov.au)
• ATO contributions caps (concessional & non‑concessional). (ATO.gov.au)
• ATO CGT discount rules. (ATO.gov.au)

Would you like a tailored checklist for one of these categories: (A) employee with investments, (B) rental property investor, (C) small business owner, or (D) retiree/withdrawal planning?