If EOFY has snuck up on you a little this year, you’re not alone. For a lot of business owners, June comes with a quiet sense of: “I probably should have looked at this earlier…”
The good news? There’s still time to make a few meaningful moves before June 30. Not everything needs to be done. But the right actions now can make a real difference — both for your tax position and your clarity going into the new financial year.
EOFY has a reputation. Deadlines. Receipts. Last-minute scrambles. A focus on “what can I claim?” But the business owners who get the most value out of this time aren’t just thinking about tax.
For many business owners, the relationship with their accountant starts around tax time. You send through your documents, they prepare the return, you sign it — and that’s the end of the conversation until next year. But for businesses ready for more support, the right accountant can do much more than lodging forms and ticking compliance boxes.
As the end of financial year starts to come into view, now is a smart time for business owners to check in on cash flow. While June can often bring a sharper focus to tax, reporting and compliance, April is the ideal time to get proactive.
If you’ve heard whispers about “Payday Super” but haven’t quite wrapped your head around it — you’re not alone. This is one of the biggest changes to Australia’s Super Guarantee (SG) system in decades, and it’s coming soon. For employers and employees alike, it’s an important shift.
With your children grown and retirement on the horizon, this is the perfect time to fine-tune your financial position. Strategic tax planning now can reduce your tax, boost retirement savings, and ensure a smoother transition into retirement.
Your tax plan shouldn’t be “set and forget.” Just as your life shifts — from studying and working your first job, through buying property, raising a family, running a business, and eventually retiring — your tax opportunities and obligations evolve too.
Retirement changes how you interact with the tax system, but opportunities still exist to reduce tax, optimise income, and preserve your wealth. Strategic planning can ensure your retirement savings go further while keeping you compliant with ATO rules.
Starting out in your career or balancing study with work can feel overwhelming — but it’s also the perfect time to build strong financial habits and make the most of every tax opportunity. The good news? There are plenty of deductions, contributions, and strategies designed to boost your savings, reduce your tax bill, and set you up for long-term success.
Combining finances with a partner or buying your first home is exciting — but it also brings new tax opportunities and considerations. With careful planning, you can reduce your tax, make the most of government schemes, and protect your financial future as a couple.
