The start of the new financial year on 1 July 2025 is set to bring a raft of changes for millions of Australians. Whether you’re a worker, retiree, parent or business owner, here’s what to watch — and how it could affect your wallet.

As the end of financial year approaches, savvy Australians are looking for ways to maximise their retirement wealth — and avoid giving more than necessary to the tax office. One little-known superannuation rule could allow eligible Aussies to tip in an extra $25,500 before June 30 — even if they’ve already hit this year’s $27,500 concessional cap. Known as the “carry forward” rule, this strategy can lead to thousands in tax savings and faster retirement growth.

The government is considering further changes to the superannuation system, building on recently legislated tax on super balances over $3 million. This signals a clear shift in how Canberra views super: not just as a vehicle for retirement income, but as a source of revenue and redistribution. For Self Managed Super Fund trustees and high-balance investors, the writing is on the wall — and strategic planning is more important than ever.

As the financial year draws to a close, trustees of Self Managed Super Funds (SMSFs) must shift their focus to compliance, reporting, and strategic planning. Whether your SMSF is focused on shares, cash, or direct property, the 30 June deadline is non-negotiable—and so are your obligations.