As we approach 30 June 2026, proactive planning is the most effective way to manage your tax position and cash flow. To help you prepare for a smooth year-end, we have outlined the key strategies and compliance requirements for the 2025–2026 financial year.

Smart Spending & Asset Management

• Instant Asset Write-Off Details: Ensure any technology or equipment upgrades costing under $20,000 are fully installed and ready for use by 30 June to claim the immediate deduction.
• Accelerate 2027 Expenses: If your cash flow permits, consider prepaying upcoming costs like insurance premiums, rent, or professional memberships to bring those deductions into the current year.
• Inventory Clean-out: Perform a physical stocktake as the year ends. This is your chance to write down damaged or obsolete stock to its net realisable value, reducing your taxable income.

Payroll & Superannuation Deadlines

• The 23 June "Safe Zone": To guarantee a deduction for the 2026-year, employee superannuation must be received by their fund before 30 June. We strongly recommend processing all payments by 23 June 2026 to account for clearing house delays.
• Strategic Super Contributions: The concessional cap is set at $30,000 for this year. For those directors with total balances under $500,000, you may be able to utilise unused "carry-forward" caps from previous years.
• STP Data Health Check: With "Pay Day Super" on the horizon, now is the time to audit your Single Touch Payroll data—ensuring all employee TFNs, addresses and super fund details are accurate for a seamless finalisation.

• Bad Debt Write-offs: Don't pay tax on income you won't collect. Review your ageing debtors and physically write off unrecoverable amounts in your accounting software prior to 30 June.
• Division 7A & Loans: If you have a Director’s Loan Account, we must review it now. Formal loan agreements or specific repayments must be in place to prevent the ATO from treating these as unfranked dividends.
• Record-Keeping Audit: Check if your motor vehicle logbook has reached its 5-year expiry. If your business usage has changed significantly, you should begin a new 12-week logbook immediately. 

Keeping Your Records Up to Date

• Change of Details: To ensure you remain compliant with your reporting obligations, please notify our office if you have had any changes in your business or personal details over the last year. We will ensure your records are updated correctly with both the ATO and ASIC.
• Coordinate with Your Advisors: If you already have a relationship with a financial advisor, we highly recommend contacting them before 30 June. Discussing these tax strategies with them ensures your investment and superannuation decisions are perfectly tailored to your long-term business goals.

• Final Super Payments (for deduction) – 23 June 2026
• Asset Purchase & Installation – 30 June 2026
• Bad Debt Write-offs / Stocktake – 30 June 2026
• STP Finalisation – 14 July 2026

Need Help?

Tax planning is most effective when done before the clock runs out. To ensure you are maximising your deductions and staying compliant with the latest regulations, please contact our office to book a dedicated tax planning session.

View more articles

Share this post