2025-26 Tax Year
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Timing is important
Expenses qualifying as a deduction
Generally expenses must have been paid for on or before 30 June to be claimed as deductions. Invoices dated on or before 30 June for goods or services received may also be sufficient evidence to claim a deduction.
Prepayment of some expenses to be incurred in the next 12 months may also result in allowable deductions.
Logbooks to support business usage of a motorcycle, car or other vehicle
To use the logbook method to support business usage a logbook must be kept for at least 12 weeks with the level of detail required by the ATO. The resulting business usage can then be applied for five years before another logbook is required.
Government Superannuation Co-contributions
A government co-contribution of superannuation, of up to $500, is available to low or middle income earners who make personal superannuation contributions and do not claim a tax deduction for those contributions.
The personal superannuation contribution must be made before 30 June and the government co-contribution will be determined by the amount of your income and personal superannuation contributions.
Deductions for Personal Superannuation Contributions
You can claim a tax deduction for contributions to superannuation of up to $30,000 if you meet the eligibility rules regarding the fund, your age and notice given to the fund.
The $30,000 limit is reduced by any employer Superannuation contributions received to your super fund between 1 July 2025 and 30 June 2026. The additional personal contributions need to be received into your super fund before 30 June to qualify as a deduction.
If you have not contributed the full annual limit of concessional contributions in the past, you may also be able to use the carried forward unused contributions limits in the current year. There are a number of conditions to meet to qualify, but your Tax Agent can guide you through this if required.
Generally expenses must have been paid for on or before 30 June to be claimed as deductions. Invoices dated on or before 30 June for goods or services received may also be sufficient evidence to claim a deduction.
Prepayment of some expenses to be incurred in the next 12 months may also result in allowable deductions.
Logbooks to support business usage of a motorcycle, car or other vehicle
To use the logbook method to support business usage a logbook must be kept for at least 12 weeks with the level of detail required by the ATO. The resulting business usage can then be applied for five years before another logbook is required.
Government Superannuation Co-contributions
A government co-contribution of superannuation, of up to $500, is available to low or middle income earners who make personal superannuation contributions and do not claim a tax deduction for those contributions.
The personal superannuation contribution must be made before 30 June and the government co-contribution will be determined by the amount of your income and personal superannuation contributions.
Deductions for Personal Superannuation Contributions
You can claim a tax deduction for contributions to superannuation of up to $30,000 if you meet the eligibility rules regarding the fund, your age and notice given to the fund.
The $30,000 limit is reduced by any employer Superannuation contributions received to your super fund between 1 July 2025 and 30 June 2026. The additional personal contributions need to be received into your super fund before 30 June to qualify as a deduction.
If you have not contributed the full annual limit of concessional contributions in the past, you may also be able to use the carried forward unused contributions limits in the current year. There are a number of conditions to meet to qualify, but your Tax Agent can guide you through this if required.