Key Actions Across Trusts, Superannuation, Tax Strategy & Succession Planning.

Prepared by Andersen Private Client Services – June 2025.

As the financial year draws to a close, it’s easy for important planning opportunities to be overlooked in the rush to meet deadlines. That’s why we’ve prepared this checklist, to help prompt key considerations across tax, trusts, superannuation, and succession as you finalise your year-end strategy.

This checklist is intended to be a practical starting point to guide your thinking. Everyone’s position is different, so please reach out to us or your advisers to discuss what’s right for your circumstances.

Checklist PDF Download

Download a PDF version of our EOFY Checklist below:

1. Trust Structures

Keep your trusts compliant, effective, and aligned with broader wealth and succession goals.

• Trust Distribution Resolutions
  Sign written resolutions by 30 June to avoid default assessments. Confirm compliance with streaming rules for capital gains and franked dividends.

• Review Trust Deeds
  Ensure the deed permits streaming and reflects current law. Review definitions and trustee powers relating to income and capital.

• Family Trust Elections (FTEs)
  Confirm whether an FTE is required to preserve franking credits, utilise losses, or avoid family trust distribution tax. Review the test individual and avoid distributing to entities outside the family group.

• Interposed Entity Elections (IEEs)
  Ensure IEEs are made for any entity receiving distributions from an FTE trust to retain family group status.

• Unpaid Present Entitlements (UPEs)
  Address UPEs to corporate beneficiaries. Consider Division 7A-compliant loans or sub-trusts to manage tax risks.

• Section 100A Risk Assessment
  Review any arrangements where a beneficiary is not the true recipient of the economic benefit. If a reimbursement agreement exists, the trustee may be taxed at 45%. Refer to current ATO guidance.

• TFN Reporting for Closely Held Trusts
  Ensure TFNs are collected and reported for all new beneficiaries. Withhold tax where TFNs are not provided and lodge the annual TFN withholding report by 30 September.

• Asset Revaluations & Minutes
  Revalue assets where relevant and minute the rationale for any capital distributions.

• Appointor & Trustee Roles
  Confirm appointors, trustees, and corporate directors are current and consistent with your succession plan.

• New ATO Disclosure Requirements
  Be aware of expanded income tax return disclosures, including detailed trust income reporting in both trust and beneficiary tax returns—particularly for capital gains and franked income.

2. Superannuation

Optimise your position within concessional and non-concessional caps while ensuring compliance.

• Maximise Concessional Contributions
  Contribute up to the $30,000 cap before 30 June. Consider additional salary sacrifice or personal deductible contributions but be careful to track all of your contributions from your employer.

• Use Catch-Up Contributions
  If your total super balance is under $500,000 on 30 June 2024, consider making use of unused concessional caps from the past five years.

• Non-Concessional Contributions
  Use the $120,000 annual cap or up to $360,000 via the bring-forward rule (if your total super balance is under $1.9 million as at 30 June 2024).

• Minimum Pension Withdrawals
  Ensure account-based pensions meet minimum drawdown requirements for FY25 to preserve tax-exempt status.

• Binding Death Benefit Nominations (BDBNs)
  Review and update BDBNs to ensure clarity and avoid disputes, especially if circumstances have changed and look at implications of leaving to your estate.

• Review SMSF Investment Strategy
  Ensure your SMSF’s investment strategy is up to date and reflects the actual asset mix, liquidity needs, and member profiles.

• Total Superannuation Balance
  Total Superannuation Balance Cap of $1.9 million is increasing to $2 million from 1 July 2025. If your super balance exceeds $1.9 million on 30 June 2024 you cannot make non-concessional contributions in FY25.

3. Tax Strategy & Structuring

Take a proactive approach to managing personal and family group tax outcomes.

• Capital Gains / Losses Review
  Assess CGT positions. Harvest losses to offset gains where appropriate. Ensure any loss-harvesting transactions are genuine and not considered ‘wash sales’ by the ATO.

• Prepay Deductible Expenses
  Consider prepaying interest on investment loans, insurance, or professional fees to bring forward deductions.

• Defer Income Where Commercially Justified
  Explore whether investment income, bonuses, or invoicing can be deferred to FY26.

• Division 7A Loan Compliance
  Make minimum yearly repayments or convert to compliant loan agreements to avoid deemed dividends from private companies.

• Finalise Private Company Dividends
  Plan and declare franked dividends if desired. Confirm sufficient franking credits are available and document resolutions.

• Ensure All Required Elections Are Lodged On Time
  FTEs, IEEs, and other elections must often be lodged by the tax return due date. Do not leave this to chance.

• Small Business Write-Off
  Small businesses can instantly write off assets costing less than $20,000 if the asset is purchased and used or ready for use by 30 June 2025.

4. Succession & Legacy Planning

Future-proof control, legacy, and intergenerational wealth outcomes.

• Review Estate Planning Documents
  Ensure Wills, Enduring Powers of Attorney, and Medical Directives reflect your wishes and current structure.

• Control of Entities
  Check who controls companies and trusts – this may matter more than ownership. Ensure directors, shareholders, and appointors align with succession goals.

• Testamentary Trusts in Wills
  Consider whether your Will includes testamentary trusts to provide flexibility, tax benefits, and asset protection for beneficiaries.

• Asset Ownership Review
  Confirm title and ownership details for key assets (property, companies, IP) are correct and consistent with intended plans.

• Family Governance Framework
  Use this time to engage family members, review your family constitution (if you have one), or consider creating one.

• Charitable Giving / Philanthropy
  Make deductible donations before 30 June. For those with private ancillary funds (PAFs), confirm minimum annual distributions of 5% (or $11,000) to DGRs are met.

5. Additional Considerations

• Cash Flow & Funding
  Assess upcoming distributions, tax liabilities, and ensure appropriate liquidity across entities and family group.

• Group Structuring Review
  Consider whether holding structures, IP ownership, or operating entities remain fit-for-purpose.

• Professional Review
  Book a pre-30 June strategy meeting to ensure alignment across legal, tax, investment, and estate plans.

6. Administrative Final Checks

• Trust distribution resolutions signed before 30 June.
• Superannuation contributions made and received by fund.
• Key family governance documents reviewed.
• Entity register, ASIC details, and corporate records up to date.
• Key adviser contact list and authority matrix current.

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