My DS1 is a July baby and the NSW cutoff is the end of July as well. My son is very social and interested "big school" but we will wait a year. It's not the classroom stuff that worries me, it's the playground, the toilets, all those unsupervised moments where other kids can take advantage of him. It's also the 5 days a week, all day exhaustion of school as well.

My SiL started her twins at 4.5 for the same reason (finances/daycare) and she regrets it. She can really see the difference between them and her first daughter who was 5.3 when she started. She has raised the issue of repeating but the girls are horrified at the idea of leaving their friends and the school doesn't think they are behind enough to warrant it either, even though it is obvious they struggle a bit.