Monthly update, June 2025

#### Get on the front foot for your 2024-25 tax return

1. Get on the front foot for your 2024-25 tax return We take a closer look at some common deductions that the ATO often keeps a close eye on, like working from home costs and using your own car for work. Our tips will help you get your claims right and avoid unwanted surprises.

2. Proposed Division 296 tax: Key issues and implications There’s been a lot of talk about this new tax on large super balances. We explain the key concerns – like being taxed on unrealised gains and the fixed $3 million threshold – and why it’s important not to make any rushed decisions just yet. Remember, it’s still just a proposal.

3. The CGT exemption for land adjacent to a home Got a large property or extra land beside your main residence? We unpack the rules that could make this land exempt from capital gains tax (CGT). The rules are detailed, so it’s wise to seek advice if this applies to you.

4. 30 June 2025 tax and super checklist The end of the financial year is fast approaching. This handy checklist helps you get organised – whether it’s reducing tax, topping up your super, or avoiding last-minute pressure. A little planning now can go a long way.

1. Get on the front foot for your 2024-25 tax return 2. Proposed Division 296 tax: Key issues and implications 3. The CGT exemption for land adjacent to a home 4. 30 June 2025 Tax and super checklist

• CGT: When is the contract of sale entered into? Timing matters. We explain why the year you sign matters more than when settlement occurs.
• Can you leave your super to your grandchildren? Not easily – but there is a workaround. We share what you need to know.

We hope you find this edition helpful. As always, feel free to reach out with any questions.

This issue reflects the law when it was published. Tax and super rules change often, so please call us before acting on anything in it.