End Of Financial Year Planning Checklist: What You Should be Doing Now

Summary

With the end of the financial year (EOFY) fast approaching, now is a great time to pause and take stock of your finances.

Content

With the end of the financial year (EOFY) fast approaching, now is a great time to pause and take stock of your finances. Rather than leaving everything to the last minute, a simple review now can help ensure you’re organised, informed, and ready for 30 June.

A good place to start is getting your financial information in order. This includes income details, bank statements, investment records and any other supporting documents. Having everything in one place will not only make tax time easier but also give you a clearer picture of your overall financial position.

It’s also worth taking time to review your expenses and any records you’ve kept throughout the year. Making sure documentation is complete and up to date can help avoid unnecessary stress later on. EOFY is often when gaps in record-keeping become more obvious, so getting on top of this now can make a big difference.

Beyond the admin, this is a valuable opportunity to reflect on the past 12 months. Have there been any changes in your income, investments or personal circumstances? Are your finances still aligned to your goals? A quick check-in can help identify anything that may need attention before the financial year wraps up.

It can also be helpful to review any investment activity over the year, including income received or changes made to your portfolio. Having a clear understanding of this activity will make it easier to track performance and stay on top of your broader financial plan.

Importantly, EOFY isn’t just about closing out the year, it’s also about preparing for what comes next. Taking the time to review where things stand now can help you step into the new financial year with greater clarity, confidence and control.

If you’re unsure where to start or would like to better understand your current position, speaking with your adviser can help ensure everything is on track ahead of the 30 June deadline.