Last-Minute EOFY Tax Moves: What You Can Still Do Before 30 June

It’s June — and the EOFY clock is ticking.

If you haven’t done much tax planning yet, you’re not alone. This is the time of year where many business owners suddenly realise:

• “I should probably look at my numbers…”

• “How much tax am I actually up for?”

• “Is there anything I can still do?”

The good news?
Yes — there are still things you can do before 30 June.

The key is to act quickly and focus on what’s actually still achievable.

What You Can Still Do Before 30 June

1. Make Additional Super Contributions

This is one of the most effective last-minute strategies.

If done correctly, you can:

• Reduce your taxable income

• Boost your super balance

Important:

• Contributions must be received by the fund before 30 June (not just transferred)

• Check your contribution caps to avoid excess

👉 This is often one of the last levers available in June.

2. Purchase Eligible Business Assets

If your business genuinely needs equipment, you may still be able to:

• Purchase before 30 June

• Claim a deduction this financial year (subject to rules)

Examples:

• Tools, machinery

• Office equipment

• Technology

⚠️ Timing matters:

• The asset generally needs to be purchased and ready for use before 30 June

Don’t rush into unnecessary purchases — but don’t delay genuine ones either.

3. Write Off Bad Debts

If you have invoices that are unlikely to be paid:

• You may be able to write them off as bad debts

To do this properly:

• The debt must be genuinely unrecoverable

• It must be written off in your accounts before 30 June

This is a simple but often overlooked way to reduce taxable income.

4. Review Your Accounts for Missed Expenses

Now’s the time to do a quick sweep for anything missing:

• Unrecorded expenses

• Outstanding bills

• Business-related purchases not yet claimed

Even small items add up.

A clean set of books = a more accurate (and often lower) tax position.

5. Finalise Any Prepayments (If Applicable)

Depending on your structure, you may still be able to:

• Prepay certain expenses

• Claim a deduction this year

Examples:

• Insurance

• Subscriptions

• Rent

Again, rules apply — so it’s worth checking before proceeding.

What’s Probably Too Late

Let’s be real — by June, some strategies are no longer practical.

These may include:

• Major structural changes

• Complex tax planning strategies

• Anything that requires long lead times

June is about execution — not big-picture restructuring.

Common Last-Minute Mistakes to Avoid

When things get rushed, mistakes happen.

Watch out for:

• ❌ Buying assets purely for tax (and hurting cashflow)

• ❌ Missing key deadlines (especially super contributions)

• ❌ Guessing numbers instead of working from actual data

• ❌ Leaving everything until the final week

A rushed decision can cost more than the tax you’re trying to save.

Don’t Forget: It’s Not Just About Tax

Yes, reducing tax is important.

But so is:

• Keeping your cashflow healthy

• Making good business decisions

• Staying compliant

The goal isn’t just to pay less tax — it’s to be in a stronger position overall.

Final Thoughts

If you’re reading this in June, here’s the bottom line:

• You haven’t missed everything

• But you are running out of time

Even a few smart actions taken now can:

• Reduce your tax bill

• Clean up your accounts

• Set you up better for the new financial year

Need Help Before 30 June?

If you’re unsure what applies to your situation — or just want to make sure you’re not missing anything — now is the time to get advice.

We help small business owners:

• Identify last-minute opportunities

• Avoid costly mistakes

• Get everything sorted before EOFY

Reach out ASAP — the sooner we look at it, the more we can still do.