Did You Miss Valuable Financial Planning Opportunities This EOFY?

Cameron Aldus
Jul 1
4 min read

The end of financial year has come and gone. For many Australians, that means it's time to lodge a tax return and move on to the next financial year. For others, it's a chance to reflect on opportunities that may have been missed.

Every year there are financial planning strategies that expire on 30 June. Some can still be addressed after year end, but many cannot. Once the deadline passes, the opportunity is gone until the following financial year.

The good news is this isn't about dwelling on what could have been done. It's about understanding why an ongoing financial planning relationship can help ensure those opportunities aren't missed again.

The Opportunities That May Have Passed

For many investors and professionals, the end of financial year is one of the busiest periods for financial planning.

Depending on individual circumstances, common opportunities include:

Maximising concessional superannuation contributions
Using carried forward concessional contribution caps
Making personal deductible super contributions
Reviewing non-concessional contribution strategies
Realising capital gains or losses where appropriate
Reviewing investment portfolios before year end
Reviewing business structures and trust distributions with your accountant
Assessing whether insurance premiums and ownership structures remain appropriate

Not every strategy is suitable for every person, but many of these opportunities rely on action being taken before 30 June.

Once the financial year closes, those opportunities may no longer be available.

Superannuation Is One of the Biggest Missed Opportunities

One of the most common areas we see overlooked each year is superannuation.

For higher income earners in particular, making additional concessional contributions before 30 June can provide two significant benefits.

The first is increasing retirement savings in one of Australia's most tax-effective investment environments.

The second is the potential to reduce taxable income in the current financial year.

Many Australians may also be eligible to use unused concessional contribution caps carried forward from previous years, creating opportunities to contribute substantially more than the standard annual cap.

These opportunities are valuable, but only if they are identified before the deadline.

Financial Planning Isn't Just About Tax

EOFY is often viewed as a tax exercise.

In reality, it is much broader than that.

A financial review before 30 June is often an opportunity to ask questions such as:

Has my investment strategy changed?
Is my insurance still appropriate?
Has my business grown in value?
Am I making the most of available contribution strategies?
Are my long-term goals still on track?

Often the biggest value comes from stepping back and looking at your overall financial position rather than focusing on one specific strategy.

Why These Opportunities Are Often Missed

In most cases, people don't deliberately ignore these opportunities.

Life gets busy.

Business owners are focused on running their business. Professionals are balancing demanding careers and family commitments.

Before they know it, June becomes July.

That's why many financial planning opportunities aren't missed because people aren't interested. They're missed because nobody is proactively looking for them.

The Value of an Ongoing Advice Relationship

This is one of the biggest differences between seeing an adviser occasionally and having an ongoing advice relationship.

A financial adviser isn't just there to provide recommendations when you ask.

They're there to help identify opportunities before they disappear.

That may involve:

Contacting clients before contribution deadlines
Reviewing legislative changes
Working alongside accountants before EOFY
Monitoring changes in personal circumstances
Ensuring strategies remain appropriate as life evolves

Rather than reacting after opportunities have passed, ongoing advice creates a framework that helps ensure important decisions are made at the right time.

Looking Forward, Not Back

Missing an EOFY strategy doesn't mean you've missed every opportunity.

A new financial year brings new contribution caps, new planning opportunities and another chance to review your overall financial position.

The important thing is not whether every opportunity was captured this year.

It's putting a process in place that makes it far less likely they'll be missed next year.

Key takeaway

The end of financial year is about much more than lodging a tax return.

For many people, it represents a series of financial planning opportunities that only exist for a limited period each year.

If you found yourself wondering in July whether there was more you could have done before 30 June, you're probably not alone.

The value of ongoing financial advice isn't simply implementing strategies. It's ensuring the right opportunities are identified before they become missed opportunities.

Oakmont Financial Group is a specialist firm dedicated to providing Financial Advice that helps you feel confident about your future. If you would like to discuss your financial goals for the year ahead and beyond, you can book a meeting at a time that suits you (including outside standard hours) via our online calendar.

Book a meeting.

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General Advice Disclaimer

The information contained on this website and in this blog-post is general in nature and does not take into account your personal situation or circumstance. It is recommended that you consider and use the information provided responsibly, and where appropriate, seek professional advice from a financial adviser.

Although, every effort has been made to verify the accuracy and correctness of information, Oakmont Financial Group, together with our consultants, officers, agents, and employees, disclaim all liability for any loss or damage suffered by any persons directly or indirectly relying on this information.