TaxBot is an AI-powered tax and expense app for everyone — from individuals wanting a bigger tax refund to sole traders, freelancers and small businesses in Australia and the United States. You scan a receipt or upload a bank statement, and TaxBot's AI categorises each transaction, finds the deductions you're entitled to, tracks GST/BAS, and estimates your tax in real time.

How does TaxBot help me save on tax?

TaxBot reads your receipts and bank statements and uses AI to identify every work-related expense you can legally claim — matched to your occupation — including items people commonly miss like subscriptions, tools, phone, vehicle and depreciation. Claiming more legitimate deductions lowers your taxable income, so you keep more of what you earn.

Does TaxBot handle GST and BAS in Australia?

Yes. TaxBot tracks GST collected and paid, breaks it down by BAS quarter and full financial year (1 July – 30 June), and gives you a clear net-GST figure to help you prepare your Business Activity Statement.

TaxBot is for anyone who wants to pay less tax and keep better records — everyday individuals and employees claiming work-related deductions, as well as sole traders, freelancers, contractors, gig and rideshare drivers, tradies and small business owners. If you have expenses you can claim, TaxBot helps you find and track them without an accountant doing everything manually.

Yes — you can start free with no credit card. The free Starter plan includes essential tools and a monthly allowance of AI actions. Paid plans (from $14.99/month AUD) add unlimited receipts, more AI, and extra modules like invoicing, mileage and depreciation.

Can TaxBot turn my bank statement into deductions?

Yes. Upload a PDF or image of your bank statement and TaxBot's AI extracts every transaction, detects the financial year automatically, flags likely business deductions based on your occupation, and lets you save them to your records in one step.

End of Financial Year Tax Planning: 15 Last-Minute Moves

Strategic actions to take before June 30 that could save you thousands

Australians leave over $8 billion in legitimate tax deductions unclaimed each year. Much of this is simply poor timing: expenses that could have been brought forward, contributions that could have been made, and strategies that could have been implemented before June 30. With the end of financial year approaching, now is the time to act.

The Problem: Last-Minute Panic Leads to Missed Opportunities

Every year, the same pattern repeats. Workers scramble to find receipts in late June. Business owners rush purchases they do not really need. Investors panic-sell to crystalise losses. And countless Australians miss simple strategies that could have saved them thousands.

The best tax planning happens throughout the year, but if you have not been proactive, these final weeks before June 30 offer genuine opportunities to improve your position. The key is knowing which moves actually make sense for your situation.

15 Last-Minute Tax Moves to Consider

Superannuation Strategies

1. Top Up Concessional Contributions

The concessional contribution cap is $30,000 for 2024-25. This includes your employer's super guarantee contributions. Check your current total and consider making a personal contribution before June 30. At a marginal tax rate of 37 percent versus 15 percent super tax, a $10,000 extra contribution saves you $2,200 in tax.

2. Use Carry-Forward Contributions

If your total super balance is under $500,000, you can use unused concessional cap space from up to five prior years. Log into myGov to check your available carry-forward amount. Some people have over $50,000 in unused space waiting to be used.

3. Spouse Contribution Tax Offset

If your spouse earns under $40,000, contributing up to $3,000 to their super entitles you to a tax offset of up to $540. The contribution must be received by the fund before June 30.

Prepayment Strategies

4. Prepay Deductible Expenses

You can prepay up to 12 months of deductible expenses and claim them this financial year. Common prepayments include income protection insurance, professional subscriptions and memberships, investment property expenses (strata, insurance), and interest on investment loans.

5. Prepay Investment Loan Interest

Property investors often prepay 12 months of interest before June 30. On a $500,000 loan at 6 percent, that is $30,000 in prepaid interest bringing forward an $11,100 tax saving (at 37 percent marginal rate) into this financial year.

Investment Timing

6. Tax-Loss Harvesting

Review your investment portfolio for losses. Selling underperforming investments before June 30 crystallises losses that offset capital gains. Be aware of the wash sale rule: if you buy back substantially the same investment within a short period, the ATO may deny the loss.

7. Defer Capital Gains

If you are planning to sell an asset at a profit, consider whether delaying until after July 1 makes sense. This defers the tax liability by 12 months and may also help you qualify for the CGT discount if you have held for close to 12 months.

8. Dividend Timing

If you control the timing of dividend payments (for example, from a family company), consider whether paying before or after June 30 creates a better tax outcome based on your current year versus next year income expectations.

Business Owner Strategies

9. Instant Asset Write-Off

The $20,000 instant asset write-off threshold applies for the 2025-26 year. Assets must be installed and ready for use before June 30 to claim in this financial year. Do not buy equipment you do not need just for the deduction, but if you were planning a purchase anyway, bringing it forward makes sense.

10. Write Off Bad Debts

If you have invoices that are genuinely unrecoverable, write them off before June 30 to claim the deduction this year. Document your attempts to recover the debt.

11. Defer Income

If you issue invoices in late June with payment terms pushing receipt into July, the income may be assessable in the following year (depending on your accounting method and business structure).

Personal Strategies

12. Charitable Donations

Donations to registered deductible gift recipients are tax deductible. If you were planning charitable giving, making donations before June 30 secures the deduction this year. Keep receipts for all donations over $2.

13. Private Health Insurance

If you earn over $90,000 single or $180,000 family, the Medicare Levy Surcharge applies if you do not have hospital cover. Taking out cover before June 30 avoids the surcharge for any period covered, even if you pay the full year premium after July 1.

14. Review Your HECS-HELP

If you are close to a repayment threshold, consider strategies to reduce taxable income below that threshold. Even a small amount below $54,435 means avoiding the minimum 1 percent repayment on your entire HECS debt.

15. Gather and Organise Records

While not directly reducing tax, organising your records now ensures you claim everything you are entitled to. Review bank statements for work-related expenses you may have forgotten. Ensure you have receipts for all claims over $300.

How TaxBot Helps with EOFY Planning

TaxBot EOFY features give you visibility and control:

Super contribution tracker: See your year-to-date contributions against the cap
Carry-forward calculator: Identify unused super cap space from prior years
Expense review: Analyse your year-to-date deductions and identify gaps
Capital gains estimator: Model the tax impact of selling investments before June 30
Prepayment reminders: Alerts for key prepayment deadlines
Personalised recommendations: AI-powered suggestions based on your specific situation

Act Before June 30

The end of financial year deadline is firm. Super contributions must be received by your fund, not just sent. Expenses must be incurred. Assets must be installed. Do not leave it to the last day.

Download TaxBot today to review your position, identify opportunities, and take action while there is still time.