1. Get Your Paperwork in Order
Having your documents up to date can streamline EOFY reporting. Make sure you have:
- Income statements & profit and loss reports
- Receipts for business-related purchases (including assets)
- Motor vehicle and travel expense records related to your business
- Tax returns, BAS, GST returns & super contribution records
2. Simplify Accounting with Online Tools
Make tax time smoother by separating personal and business banking.
- Track Business performance and manage cash flow
- Share ‘view only’ access with your bookkeeper or accountant
- Connect bank feeds to MYOB, Xero and more.
3. Maximise Your Deductions
Claiming all eligible deductions is smart business. Take a look at the ATO website to see what is claimable.
Tip: Keep receipts and documentation to support every claim.
4. Meet Your Superannuation Obligations
If you employ staff, ensure Superannuation Guarantee contributions are:
- Paid by June 30 to claim tax deduction this financial year
- Sent to a complying super fund or retirement savings account
Missing deadlines can impact your deductions – plan ahead.
5. Stay on Top of Key Dates
ATO deadlines wait for no one:
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- Add key dates to your calendar
- Set reminders for lodgements and payments
- Visit the ATO website for a full due date list
Preempt some tax minimisation with your EOFY Finance Pre-Approval
Thinking you might need to upgrading your equipment or vehicle to minimise your tax? Get your obligation-free pre-approval sorted now so you’re ready to hit go before June 30. Why wait?
