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While the best tax planning is rarely left to the final days of June, there is still value in understanding the most common levers available and whether they are commercially appropriate for your business.
A simple principle is worth keeping in view throughout:
Tax planning should support good business decisions — not distort them.
The ideas below work best when they align with actions your business already intends to take.
Think of this as a practical EOFY checklist rather than a list of shortcuts.
The most effective EOFY tax planning usually comes from aligning legitimate tax opportunities with decisions your business already needs to make — not from rushing into spending purely for a deduction.
Where it genuinely fits the work, income may move into the next financial year by adjusting:
Hold off invoicing a completed job until early July and the income may fall into next year.
Important: This should reflect commercial reality — not artificial tax avoidance.
If a debt is genuinely unrecoverable and formally written off before 30 June, it may become deductible this year.
Document:
A deduction should always stand up to review.
Closing stock may be valued at:
Slow-moving or obsolete inventory may justify a lower valuation.
Original stock value → $10,000
Current value → $6,000
Potential deduction→ $4,000
Sometimes deductions are sitting quietly in storage.
Assets no longer suitable for business use may be scrapped and removed from the books.
Equipment written-down value → $3,000
Scrapped before 30 June → $3,000 deduction
Ensure disposal records are retained.
Eligible small businesses may prepay up to 12 months of certain expenses and claim deductions now.
Examples:
You are still spending real cash to save only part of it in tax.
Prepayments work best when the expense already makes commercial sense.
Super is deductible only when paid and received.
June quarter SG → $15,000
Paid and cleared by 30 June → deductible this year.
⚠️ Clearing house timing matters.
Funds often need to reach the super account — not simply leave yours.
Contribute up to $30,000 (including employer and salary sacrifice contributions).
Unused concessional caps from the previous five years may still be available if eligibility conditions apply.
This area contains detailed rules — professional advice is recommended.
Buy equipment because the business needs it.
Tax outcomes should be secondary.
| Asset Value (net GST) | Tax Treatment |
|---|---|
| Under $20,000 | Immediate deduction |
| $20,000+ | Small business depreciation pool |
Assets over the threshold still receive deductions — simply over time.
Trustees generally need to determine distributions before 30 June.
Where appropriate, distributing income across beneficiaries on lower marginal rates may improve outcomes.
However:
This is best approached with advice.
A corporate beneficiary may cap tax at company rates.
25% Company Rate vs 47% Top Personal Marginal Rate
Proper implementation matters.
Rules such as Division 7A and Section 100A can affect outcomes.
Advice before implementation is strongly recommended.
None of these strategies are especially exotic.
They are familiar EOFY levers available to many businesses.
The value lies in selecting the right ones, in the right order, and applying them to your circumstances — ideally before the final days of June.