Benefit from Financial Year End

Updated for the 2025–26 income year (tax returns lodged from 1 July 2026), with 2026–27 changes noted. Reviewed 19 October 2026.

Most business owners are focused on growing sales, not on 30 June. That's normal – but the weeks before financial year end are a valuable time to lift your head above the day-to-day and get your financial housekeeping in order. It doesn't need to take long, and it can make a real difference to your tax bill and your next year.

Three things to do before 30 June

1. Talk to your accountant

If the business is profitable, April to June is the time for tax planning, while there's still time to act. Ask about timing of purchases, super, bonuses, bad debts and a stocktake.

2. Plan to improve

If results aren't where you want them, decide now what you'll change: pricing, costs, marketing or the products and services you focus on.

3. Sharpen up your bookkeeping

Decisions like paying a bonus or making a super contribution rely on up-to-date figures. Get reconciliations current before June, not after.

EOFY checklist (for 30 June 2026 and beyond)

• Assets: eligible small businesses (turnover under $10 million) can immediately deduct assets costing less than $20,000 each that are first used or installed ready for use by 30 June. The $20,000 threshold is permanent from 1 July 2026.
• Super: employer contributions are only deductible in the year the fund receives them. The concessional contributions cap is $30,000 for 2025–26 and $32,500 for 2026–27. Personal deductible contributions need a valid notice of intent acknowledged by the fund.
• Payday Super: from 1 July 2026, employee super must be paid each payday. Check your payroll process.
• Bad debts: write off genuinely bad debts before 30 June to claim them this year.
• Stocktake: record trading stock values at 30 June.
• Payroll: finalise Single Touch Payroll for the year (generally by 14 July).
• TPAR: if you're in a reportable industry (for example, building and construction or cleaning), lodge by 28 August.
• ATO debts: GIC and SIC are no longer deductible from 1 July 2025 – talk to us about a payment plan rather than letting interest build.
• Lodgment: using a registered tax agent can give you later due dates under the agent lodgment program.

Get your year-end sorted with our bookkeeping, BAS and tax return services.