30 June doesn’t wait. And for most small business owners, the difference between a tax bill that stings and one that doesn’t comes down to what you do in the weeks before it, not after. These end-of-financial-year tax tips are designed to help you take action now, while there’s still time to make a real difference to your position.

Here’s what’s worth doing before EOFY 2026, and why it matters more this year than most.

Key Takeaways:

EOFY tax planning must happen before 30 June – most strategies close the moment the new financial year starts
The $20,000 instant asset write-off is now permanent, but assets must be in use before 30 June to claim this year
Super contributions are one of the most powerful tax levers available to business owners, and they must be received by your fund before 30 June
Trust distribution minutes must be completed before 30 June, or the ATO can determine how the income is taxed
Payday Super starts 1 July 2026 – your EOFY planning should include a payroll readiness check

Review Your Profit Position Before You Do Anything Else

Every good EOFY tax planning conversation starts with the same question: where are you truly sitting right now?

Before you prepay expenses, make super contributions, or purchase assets, you need to know your approximate profit for the year. If you’re tracking higher than expected, bringing forward deductions makes sense. If you’re tracking lower, some of those strategies may not be worth pulling forward at all.

Pull your year-to-date figures from Xero or your accounting software and get a clear picture of income versus expenses. If you’re not sure how to read what you’re looking at, that’s exactly what a business tax advisor is there to help with. Understanding what a tax accountant does goes well beyond lodging returns, and this kind of proactive review is where the real value sits.

Prepay Expenses and Bring Forward Deductions

One of the most straightforward end-of-financial-year tax tips is also one of the most underused: if you have expenses coming up in the next few months, pay them before 30 June and claim the deduction this year.

Small businesses can generally prepay up to 12 months of eligible expenses. Common examples include:

Business insurance premiums
Software subscriptions and licences
Lease or rent payments
Professional memberships and training

The key rule: the expense must be incurred before 30 June, and it has to relate to your business. If your cash flow allows, this is a simple and legitimate way to reduce taxable income in the current year.

Use the $20,000 Instant Asset Write-Off

From 1 July 2026, the instant asset write-off becomes permanently available for businesses with a turnover under $10 million, but if you want to claim it for the 2025–26 financial year, the asset needs to be purchased and installed and ready for use before 30 June 2026.

This is one of the EOFY tax tips for businesses that tends to create a rush in June. Vehicles, tools, equipment, computers, office fit-outs – if you’ve been considering a purchase and the asset will improve your business, now is the time to act. Don’t buy purely for the deduction, but if the purchase makes commercial sense, the timing matters.

Tradies, construction businesses, and service businesses in particular tend to have a strong pipeline of eligible assets. If you’re not sure what qualifies, run it past your accountant before you commit.

Make Super Contributions Before 30 June

Super contributions are consistently one of the most powerful EOFY tax planning moves available to business owners, and they’re often left too late.

Concessional (pre-tax) contributions are taxed at 15% inside super, compared to your marginal tax rate, which may be 32.5%, 37%, or 45%. That gap is real money. For the 2025–26 financial year, the concessional contributions cap is $30,000 (including employer super guarantee payments).

Two things to know:

Contributions must be received by your super fund before 30 June, not just processed or initiated. Leave at least a week for clearing times.
If you haven’t used your full concessional cap in prior years, you may be able to use carry-forward provisions to contribute more than the standard cap this year.

If you have an SMSF, this is a critical time to review it with your self-managed super fund accountants to ensure contributions are timed correctly and your fund’s documentation is in order.

Write Off Bad Debts and Review Your Debtors

If you have outstanding invoices that aren’t going to be paid, writing them off as bad debts before 30 June reduces your taxable income. The debt must be formally written off in your accounting system before the end of the financial year, not just flagged as unlikely.

While you’re reviewing debtors, it’s also worth chasing up any outstanding payments. Improved cash collection before EOFY puts you in a stronger position heading into the new financial year, and it keeps your books accurate for your tax return.

Review Trust Distributions – This One Has a Hard Deadline

If you operate through a discretionary trust, this is non-negotiable. Trust distribution minutes must be completed and signed before 30 June. If they’re not done on time, the ATO can assess the entire trust income at the top marginal tax rate.

The 2026 Federal Budget has also introduced a new 30% minimum tax on discretionary trust distributions from 1 July 2028, with a restructuring window opening 1 July 2027. Your EOFY tax planning this year should include a conversation about whether your current distribution strategy still makes sense given what’s coming.

Our business advisory services team works with business owners to review trust structures, model different distribution scenarios, and make sure everything is documented correctly before the deadline.

Get Payroll Ready for 1 July 2026

This isn’t a traditional end-of-financial-year tax tip, but it’s urgent. Payday Super starts on 1 July 2026, which means super must be paid on payday rather than quarterly from the very first pay run of the new financial year.

If your payroll system isn’t set up for this, you’re starting 2026–27 non-compliant from day one. Use the lead-up to EOFY to update your payroll processes, confirm your software is ready, and review how the change affects your weekly cash flow.

Don’t Leave EOFY Tax Planning Until It’s Too Late

The single biggest mistake business owners make with EOFY tax tips for businesses is treating them as a post-30 June exercise. Once the financial year closes, most of these strategies are simply off the table.

A focused 30–60 minute EOFY tax planning session with the right accountant can identify meaningful savings, flag compliance issues, and set you up for a cleaner start to 2026–27. It’s one of the highest-return conversations you’ll have all year.

If you haven’t had that conversation yet, now is the right time.

Book a free discovery call with Spark Accountants in Brisbane, and let’s make sure you’re getting every legitimate advantage available before 30 June.

Disclaimer: This article is general in nature. Tax strategies vary based on individual business circumstances – speak with a qualified tax adviser before implementing any changes.