Tax planning tips before 30/6

Adrian Rasmussen • May 25, 2016

Budgeting and tax planning might sound like something just for businesses, but getting advice before 30 June is important for individuals too, especially if you’re earning higher wages. Here are four things you should be asking your accountant and/or financial adviser.

  1. Salary Packaging – One of the main benefits of salary packaging is that it may allow you to reduce the amount of tax you have to pay. This means you receive a greater overall benefit from your employment, as the amount you save in tax, you receive in non-cash benefits.  Superannuation contributions, laptops and portable computers are some examples of how salary packaging allows you to structure your income in a more effective way. Remember some other benefits could be subject to fringe benefits tax.
  2. Income Protection – Is something everyone should have, it’s not just for high income earners. This type of insurance provides you with a monthly payment if you are unable to work due to illness or injury and the premiums are tax deductible.
  3. Investment Planning – Making sure your tax planning, superannuation and investments work together to give you the best possible deductions and benefits is important. Prepaying 12 months interest on loans for shares or investment properties can also work in with your tax planning. But remember, don’t just buy or invest in something for the tax deduction.
  4. Budgeting – Everyone can benefit from having a budget. The purpose of a budget is not to make you go without or to force you to save. It simply allows you to manage your money in a more controlled and effective way and to understand where you are spending your money.

Obviously all of these strategies depend on each individual’s situation, which is why we recommend that you seek advice and speak with your accountant as to what suits your situation.

This document provides general information only. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information. This information does not take into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision, you need to consider (with or without the assistance of an adviser) whether this information is appropriate to your needs, objectives and circumstances.

The post Tax planning tips before 30/6 appeared first on BMO Accountants.

Adrian Rasmussen retires after decades supporting Regional Queensland

By BMO • June 30, 2026
After an incredible career dedicated to supporting regional businesses, farming families and rural communities, BMO Business Centre Partner Adrian Rasmussen will officially retire from the partnership effective 30 June 2026. For many across the Western Downs and beyond, Adrian has been far more than an accountant or advisor. Over decades in business, he has built trusted relationships grounded in honesty, loyalty and a genuine understanding of regional life and the people who live it. Adrian’s connection to the country and agriculture has always been at the heart of who he is. He has worked alongside generations of farming families and business owners through seasons of growth, challenge and change, becoming a steady and respected presence for clients, colleagues and the wider community alike. Reflecting on his time at BMO, Adrian said the relationships formed throughout his career have been among the most rewarding parts of the journey. “It has been a privilege to work with so many wonderful people over the years; not only clients, but colleagues and communities who have become lifelong friends,” Adrian said. “Regional communities are built on relationships, trust and supporting one another, and I’m incredibly grateful to have been part of that throughout my career.” BMO Business Centre Managing Partners Kelvin Tyler and Michelle McVeigh said Adrian’s contribution to both the business and the region would leave a lasting legacy. “Adrian has played an incredibly important role in shaping BMO into the business it is today,” they said. “His care for clients, commitment to regional communities and calm, practical approach have earned enormous respect across our industry and the communities we serve. While we will certainly miss having him in the office, we are excited for Adrian and his family as they enter this next chapter.” While stepping away from the partnership, Adrian is looking forward to spending more time with family, on the farm and enjoying a well-earned change of pace after many years dedicated to supporting others. Everyone at BMO Business Centre extends their sincere thanks to Adrian for his years of service, friendship and leadership, and wishes Adrian and his family all the very best for the future.

Your 30 June superannuation checklist

By Nikki Ashurst • June 4, 2026
Five easy ways to get more into your super fund before the end of the financial year.