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2026 Year-End Tax Planning Guide – Part 1
As the end of the financial year approaches, now is the ideal time to review your tax position and consider strategies that may help minimise tax and improve cash flow.
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We recommend preparing an estimate of your taxable income for the year ending 30 June 2026. This can help identify any expected tax liabilities and highlight opportunities to legitimately reduce or defer tax.
It’s also worth reviewing your current income and deductible expenses to determine whether it may be beneficial to:
- bring forward deductible expenses before 30 June; or
- defer income until after 1 July 2026 where practical.
The strategies below are general in nature and may not suit every taxpayer. Their effectiveness will depend on your personal circumstances, business structure, turnover, and accounting method (cash or accruals). Importantly, some strategies require time to implement, so early planning is essential.
Tax Planning Opportunities to Consider
1. Deferring Assessable Income
In some situations, delaying income recognition until after 30 June 2026 may reduce your current year tax liability.
Possible strategies include:
- Delaying invoicing for incomplete work until after 1 July
- Deferring receipt of income where operating on a cash basis
- Postponing receipt of lump sum payments where possible
- Reviewing whether certain passive income streams (such as rent or interest) can be delayed
Where cash flow permits, this approach may help move taxable income into the next financial year.
2. Bringing Forward Deductible Expenses
Depending on your circumstances, it may be worthwhile prepaying certain expenses before 30 June 2026 to bring forward tax deductions into the current year.
Potential deductible prepayments include:
- Superannuation contributions
- Wages, bonuses, and contractor payments
- Rent and lease costs
- Insurance premiums
- Accounting fees
- Advertising and subscriptions
- Utilities and office expenses
- Motor vehicle costs
- Repairs and maintenance
- Self-education expenses
- Home office equipment
- Donations to deductible gift recipients
Superannuation Contributions
To claim a deduction for super contributions in the 2025/26 financial year, contributions must be received by the super fund before 30 June 2026.
Some low and middle-income earners may also qualify for a government super co-contribution when making personal after-tax contributions.
Prepaying deductible investment loan interest may also be worth considering in some circumstances.
As always, tax planning should align with genuine business or investment.
3. Capital Gains Tax Planning
When selling assets, remember that the contract date — not settlement date — generally determines when a capital gain or loss arises for tax purposes.
Key CGT Considerations
- Assets held for more than 12 months may qualify for the 50% CGT discount for individuals.
- Deferring the sale of an asset with an expected gain until a later financial year may reduce current year tax.
- Capital losses can be used to offset capital gains and reduce tax payable.
- Bringing forward the sale of loss-making assets may assist where gains have already been realised.
CGT Discount Rules for Individuals
For assets acquired after 21 September 1999:
- Held less than 12 months → tax applies to 100% of the gain
- Held 12 months or more → generally only 50% of the gain is taxable
Any capital gain is assessable in the financial year the CGT event occurs. Remember also that the 2026-27 Federal Budget outlined how the Federal Government is looking to change the way CGT is assessed in future years. Make sure you are aware of these changes.
4. Accounts Payable and Accrued Expenses
Businesses operating on an accruals basis should ensure all deductible expenses incurred before 30 June 2026 are properly recorded.
This may include ensuring supplier invoices are dated on or before 30 June so the deduction can be claimed in the current financial year.
Final Reminder
Effective tax planning takes time and should be tailored to your individual circumstances. Acting early provides greater flexibility and helps avoid rushed decisions at year-end.
If you are unsure which strategies may apply to you or your business, seeking professional advice before 30 June is strongly recommended.
Instant Asset Write-Off & Temporary Full Expensing
The instant asset write-off threshold for eligible small businesses remains at $20,000 for the 2026 financial year.
To qualify for the write-off, the following conditions generally apply:
- The deduction applies to eligible plant, equipment, and motor vehicles only — it does not extend to capital improvements on buildings.
- Both new and second-hand assets may qualify.
- Assets can be purchased outright or financed.
- The business must be actively operating during the 2026 financial year.
- Aggregated annual turnover must be below $10 million.
- The business must apply the simplified depreciation rules.
- Each individual asset must cost less than $20,000.
- The asset must be installed and ready for use between 1 July 2025 and 30 June 2026.
Importantly, businesses that opt out of the simplified depreciation regime will not be eligible for the instant asset write-off, even if they meet the other requirements.
The $20,000 threshold applies on a per asset basis, meaning multiple eligible assets may be immediately deducted provided each one falls below the threshold.
Assets costing $20,000 or more can still be added to the small business depreciation pool and depreciated over time — generally at:
- 15% in the first year; and
- 30% in later years.
Additional Tax Planning Opportunities for Businesses
Stock Valuation
Before 30 June, businesses should review stock on hand and work in progress to ensure inventory is valued correctly.
Stock should generally be recorded at the lower of:
- cost; or
- net realisable value.
Where stock cannot realistically be sold for its recorded value, it may need to be written down.
Superannuation Contributions
To claim a tax deduction for super contributions in the 2025/26 year, the funds must reach the super fund before 30 June 2026.
Electronic transfers made on 30 June may not clear in time, so contributions should ideally be processed several days earlier to avoid missing the deduction.
Writing Off Bad Debts
Businesses using the accrual accounting method should review outstanding debtors before year-end.
Amounts considered genuinely unrecoverable should be formally written off in the accounting records before 30 June 2026 to claim a deduction in the current financial year.
Repairs and Maintenance
Where practical and cash flow permits, consider completing deductible repairs before year-end.
It is important to distinguish between:
- repairs and maintenance (generally immediately deductible); and
- capital improvements (typically claimed over time through depreciation).
Professional advice may be required where the distinction is unclear.
Obsolete Equipment
Old or unused plant and equipment should be scrapped, disposed of, or decommissioned before 30 June 2026 where appropriate.
This may allow the remaining book value to be claimed as a deduction.
Trust Distribution Strategies
Businesses operating through discretionary trusts may wish to consider the use of a “bucket company” to receive trust distributions as part of broader tax planning strategies.
Careful planning before year-end can create valuable tax opportunities while ensuring compliance obligations are met.
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Accounting & Bookkeeping
Modern business demands up to date accurate financial information.
We can take care of all your bookkeeping and accounting needs, including the preparation of your annual accounts and periodic management accounts for tax, business appraisal and planning purposes.
We can also assist with meeting your reporting requirements including Business Activity Statements, PAYG Withholding and Instalment Activity Statements.
We will discuss your requirements with you and provide you with tailored information and constructive advice on a regular basis.
If you would like further information you can contact us on (02) 9300 3000 or .
Acquisitions & Mergers
Whether you are considering buying or selling a business, we are able to assist you in this transaction by providing experienced advice.
Each transaction is different and needs to be assessed on its individual merits. There are a number of accounting and taxation opportunities with these transactions and our experience can ensure you are maximising your benefits.
If you would like further information you can contact us on (02) 9300 3000 or .
Budgeting
A good budget is a necessity in a good business plan. It is one of the best business tools we have, allowing us to set financial targets and measure our performance.
In addition to goal setting value, budgets will often improve your chances of acquiring funding. Financers often require budgets as a prerequisite for funding approval.
We have extensive experience with assisting clients in the budgeting process.
If you would like further information you can contact us on (02) 9300 3000 or .
Business Start-Ups
Before commencing a new business, the following are some of the key items that need to be considered:
- Decide on the most suitable structure for your business – sole trader, partnership, trust or company
- Prepare a business plan, cashflow projections, budgets, and trading forecasts
- Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals
- Establish a good working relationship with your bank
- Register for a Tax File Number and an Australian Business Number with the ATO
- Complete registration procedures with Australian Securities and Investments Commission
- Deal with company secretarial issues
- Set up a recording system for your internal use and for complying with statutory requirements
Each new business is different and needs to be considered in relation to your individual circumstances and our experience can ensure you are maximising your opportunities.
If you would like further information you can contact us on (02) 9300 3000 or .
Charitable Institutions
Charitable institutions are set up to hold money or assets and carry out activities for the benefit of the community. In Australia, a variety of charitable institutions exist including:
- Various forms of charitable trusts
- Companies limited by guarantee
- Unincorporated associations
- Deductible gift recipients
- Prescribed private fund
Each type of charitable institution brings with it different requirements and benefits. We know the practicalities of these institutions and are able to assist you by:
- Co-ordinating the preparation of constituent documents
- Applying to the ATO for an Australian Business Number and Tax File Number
- Organising tax exemptions where applicable
- Attending to all compliance and statutory filings
If you would like further information you can contact us on (02) 9300 3000 or .
Company Secretary
Company legislation requires businesses to perform many administration tasks which take up a lot of valuable company time.
We are able to assist you in the following areas:
- General advice on company law
- Company formations
- Filing of annual returns on your behalf
- Preparation of all documentation related to minutes and resolutions
- Maintenance of statutory books
- Assistance in changes of directors, shareholders, addresses, and office details
- Bonus Issues
- Share transfers
- Registered Office Facility
If you would like further information you can contact us on (02) 9300 3000 or .
Financial Structures
Having the right financial structure in place for your business or your family means looking at your individual circumstances and ensuring that your assets are being maximised whilst being adequately protected.
We have extensive experience in ensuring our clients have the best financial structure for their needs both now and in the future. We can provide advice on and assist with:
- Effective structures for asset protection
- Effective structures for tax minimisation
- The optimal structure through which to operate your business
- Structures to assist in succession planning and providing for future generations
If you would like further information you can contact us on (02) 9300 3000 or .
GST
Every transaction has GST implications. We have experience with these issues and are able to offer expert advice on the implications of GST for your business. The GST related services we offer include:
- Assistance with registering for GST
- Filing and adjusting GST returns
- ATO audit assistance
- Advice on GST related issues
If you would like further information you can contact us on (02) 9300 3000 or .
Management Consulting
We are practiced in acting as a sounding board for management, bringing to the relationship years of experience in business growth and analysis.
We are able to check that your business is as competitive, focused, and profitable as it can be and we will work with you to address any issues.
If you would like further information you can contact us on (02) 9300 3000 or .
Payroll Services
We can provide a comprehensive and confidential payroll service including:
- Administration of PAYG Withholding, statutory sick pay, annual leave etc
- Australian Taxation Office filing
- Summaries and analyses of staff costs
- Administration of incentive schemes, bonuses and termination payments
- Assistance with payroll tax and workers compensation obligations
If you would like further information you can contact us on (02) 9300 3000 or .
Rental Properties
We can assist in a variety of areas in relation to residential and commercial property including:
- Advice on funding
- Cash flow analysis of property investment
- Guidance in tax related areas including negative gearing and capital gains tax
- Advice on ownership structure
- Preparation of initial land tax returns and land tax variation returns
If you would like further information you can contact us on (02) 9300 3000 or .
Clients of Wybenga & Partners Pty Limited can engage our partner firm, Washington Brown, for a competitive price on their depreciation services: Tax Depreciation Quote Request – Wybenga & Partners Pty Limited Clients
Strategic Planning & Advice
Our Strategic Planning Service is designed to assist our clients to develop financially towards the achievement of their lifetime objectives. Our experience and proven results provide our clients with the security that their financial goals will be met.
Wybenga Financial Pty Ltd is an organisation providing wealth creation and management services to private clients.
If you would like further information you can contact us on (02) 9300 3000 or .
Superannuation
Self-managed superannuation is a flexible means of saving for retirement. It allows you to take control of your superannuation, adopt a customized investment strategy and control fund administration costs.
Superannution law is a delicate area and personalised planning is required for each individual. We have extensive experience in all areas relating to superannuation and can assist in establishing a superannuation fund that will effectively allow you to reach your financial retirement goals.
Services we offer include:
- Establishment of Self Managed Superannuation Funds
- Advice concerning Compliance Matters
- Advice concerning Taxation Benefits
- Advice on Employer obligations
If you would like further information you can contact us on (02) 9300 3000 or .
Taxation
We offer a complete range of taxation services and advice based on proven knowledge and experience. Our proactive approach ensures we deliver a consistent service and build solid relationships.
We will work with you to help reduce your tax exposure and provide services including:
- Advice on all areas of direct and indirect taxation
- Preparation and lodgement of annual income tax returns for all types of entities
- Preparation of PAYG withholding variation applications
- Preparation of activity statements and advice on payment of tax
- Assistance with GST/FBT obligations including preparation and lodgement of relevant forms
- Advice on and implementation of tax effective trust structures for asset protection and tax minimisation
- Management of any ATO audits or disputes
If you would like further information you can contact us on (02) 9300 3000 or .
Trusts
A trust provides a valuable way of protecting the assets you have accumulated for the benefit of yourself and others. A trust can also be an effective structure for running your business.
We have extensive experience with trusts and are able to offer specialist advice on establishment and compliance, ensuring that all statutory requirements are met.
Wybenga & Partners are able to organise for the preparation and execution of documentation involved in Trust formation.
Our Trust administration service includes:
- Minute keeping service
- Annual accounts
- Taxation
- Maintenance of CGT register
- Income distribution
If you would like further information you can contact us on (02) 9300 3000 or .
Chris Wybenga
B.Bus, CA
Chris is the Managing Director of the Firm who established the practice in August 1994 and has been responsible for its growth and development since that time.
Chris has over 40-years experience in the Chartered Accountancy profession, predominantly spent in small to medium sized firms, advising small and medium sized businesses and individuals in areas such as taxation and accounting as well as business restructuring and superannuation advice.
Chris remains active in the development of young accountants through mentoring cadets at the Firm.
- 1980 – Commenced employment and part time university studies
- 1985 – Graduated Bachelor of Business from University of Technology, Sydney
- 1986 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
- 1994 – Established Wybenga & Partners
Dianne Bechara
B.Bus, CA
Dianne is responsible for the day-to-day operations and administration of the practice.
Dianne has over 30-years Chartered Accountancy experience and has significant expertise in providing advice and solutions to high-net-worth individuals and their associated entities. Dianne also has considerable knowledge in the areas of taxation, business services, superannuation, and compliance.
Dianne is active in promoting gender equality in the industry through various programs and mentoring opportunities. Dianne is also committed to the development of young accountants and donates considerable time to sharing her expertise.
- 1992 – Graduated Bachelor of Business from University of Technology, Sydney
- 1993 – Commenced employment in acounting profession
- 1996 – Commenced career with Wybenga & Partners
- 1997 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
- 2002 – Appointed as Director of Wybenga & Partners
Roger Potter
B.Bus, CA
Roger has over 40-years in the Chartered Accountancy profession and significant expertise in providing advice and solutions to small and medium sized businesses and high-net-worth individuals. He also has extensive experience in the areas of Self-Managed Superannuation Funds and retirement strategies.
- 1985 – Commenced employment and part time university studies
- 1990 – Graduated Bachelor of Business from University of Technology, Sydney
- 1992 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
- 1998 – Commenced career with Wybenga & Partners
- 2002 – Appointed as Director of Wybenga & Partners
Tess Uncle
B.Sc, M.Com, CA
Tess has been working in Chartered Accounting Firms since 2001 and in this time has had a broad range of experience in superannuation, taxation, business services and financial strategy.
Since 2016, Tess has turned her attention to Financial Planning, earning a Diploma of Financial Planning in 2015 and leading the financial division of Wybenga Group as a Director of Wybenga Financial.
Tess’s mission is to bring the ethics and integrity of her Chartered Accounting background to the area of wealth management.
As a woman in a male dominated field, Tess is active in promoting gender equality in the industry through various programs and mentoring opportunities.
Using her depth of knowledge and experience in tax and accounting Tess is able to demonstrate a level of competence that is unique in the Financial Planning sector.
- 2001 – Commenced employment with Wybenga & Partners and part-time accountancy studies
- 2004 – Graduated Masters of Commerce from the University of New South Wales
- 2005 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
- 2007 – Promoted to Manager at Wybenga & Partners
- 2012 – Appointed as Associate Director
- 2015 – Awarded a Diploma in Financial Planning
- 2016 – Appointed as Director of Wybenga & Partners Pty Ltd, Wybenga Group Pty Limited and Wybenga Financial Pty Ltd
Schedule a Meeting with Tess
Adam Roberts
B.Bus, B.Sc, CA
Adam has over 18-years experience in Chartered Firms and in this time has had a broad range of experience in superannuation, taxation, and business services. In particular, Adam has had significant experience in MYOB and assisting clients with periodic management reporting.
Adam is responsible for the implementation of technology in the Firm and sourcing new areas of innovation and efficiency.
Adam is active in the development of young accountants and donates considerable time to sharing his expertise.
- 2005 – Commenced employment with Wybenga & Partners and part-time Accountancy Studies
- 2005 – Graduated Bachelor of Science from the University of Western Sydney
- 2007 – Graduated Bachelor of Business from the University of Western Sydney
- 2010 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
- 2010 – Promoted to Manager at Wybenga & Partners
- 2012 – Appointed as Associate Director
- 2016 – Appointed as Director of Wybenga & Partners
Schedule a Meeting with Adam
Hussein Oubani
B.Bus, CA
Hussein brings over 20 years of experience working in Chartered Accounting Firms, during which he has gained extensive expertise in taxation and business services. He provides advice on various tax issues, including capital gains tax, fringe benefits tax, goods and services tax, and Australia’s tax treaties.
Hussein is dedicated to fostering the growth of young accountants and generously devotes a significant amount of time to sharing his knowledge and expertise.
- 2008 – Commenced employment with Wybenga & Partners and part-time
Accountancy Studies - 2010 – Graduated Bachelor of Business from the University of Western Sydney
- 2012 – Admitted as an Associate Member of the Institute of Chartered Accountants
Australia & New Zealand - 2024 – Appointed as Director of Wybenga & Partners