Article Summary 

EOFY is more than just a compliance deadline — it’s a strategic opportunity to reduce tax, boost your bottom line, and reinvest savings into what matters most. In this guide, we share actionable accounting and tax planning strategies to help you take full advantage of the 2025 financial year. Whether it’s prepaying expenses, reviewing your structure, or topping up super contributions, smart planning before 30 June could help you achieve big things. 

General Advice Warning: this article provides an overview or summary only and it shouldn’t be considered a comprehensive statement on any matter or relied upon as such. The information in this publication does not consider your objectives, financial situation or needs and advise to speak to one of our consultants for personalised advice. 

EOFY 2025 is Coming – Is Your Business Ready? 

Imagine what your business could do with the tax you save: 

  • Hire new staff 
  • Upgrade your equipment 
  • Launch a new product 
  • Clear business debt 
  • Boost your super 
  • Reward your team 

Every dollar saved on tax is a dollar that can be reinvested in your business. With 30 June fast approaching, now is the time to assess your position and take advantage of proven accounting and tax strategies to reduce your tax bill. This guide will help you identify opportunities to bring forward expenses, review your structure, and plan smarter for the financial year ahead. 

Are You a Small Business Entity? 

If your aggregated turnover is under $10 million and carrying on a business, you’re considered a Small Business Entity (SBE) and may be eligible for tax concessions such as: 

  • Simplified depreciation rules 
  • Immediate deductions on prepaid expenses 
  • Lower company tax rates (25%) 
Talk to Cosca to confirm whether your business qualifies. 

What Can You Do Now to Reduce Tax? 

Can You Defer Income Until Next Financial Year? 

  • Delay invoicing or receipt of income until after 30 June, if cash flow allows 
  • Pushes the tax liability to the 2026 year 

Should You Bring Forward Expenses? 

  • Prepay up to 12 months of expenses such as: 
  • Rent 
  • Subscriptions 
  • Marketing & advertising 
  • Loan interest (for business purposes) 

Are You Claiming All Eligible Deductions? 

  • Office and computer supplies 
  • Repairs and maintenance (complete by 30 June) 
  • Staff training and memberships 

Have You Paid Employee Super On Time? 

  • Super payments must be received by the fund before 30 June to be deductible 
  • We recommend paying by 23 June to allow for processing delays 

Is Your Business Structure Still Right for You? 

  • Are you using a Trust or Company for income distribution? 
  • Consider a Bucket Company to cap tax at 25% and avoid excessive marginal tax rates 
  • Review your exposure to Division 7A if your company has made loans to shareholders 

📌 Ask Cosca about structure reviews and asset protection strategies. 

What About Depreciation and Capital Assets? 

Can You Use the Instant Asset Write-Off? 

  • Businesses with turnover under $10 million can immediately write off eligible assets under $22,000 with GST 
  • Asset must be installed and ready for use by 30 June 2025 

Have You Sold an Asset That Was Previously Written Off? 

  • The proceeds may now be taxable income — plan accordingly 

Have You Completed Year-End Essentials? 

Do You Need to Do a Stocktake? 

  • Required for businesses holding stock 
  • Write down obsolete or slow-moving items 

Have You Written Off Bad Debts? 

  • Must be done before 30 June 
  • Record and document each write-off in your system 

Are You Claiming All You Can? 

Motor Vehicle Deductions 

  • Keep a 12-week continuous logbook (starting before 30 June) or claim cents per kilometre for up to 5,000 km 

Superannuation Contributions for Business Owners 

  • Make personal concessional contributions up to the $30,000 cap 
  • Consider carry-forward unused contributions from 2020–2024 

Tools of Trade & FBT Exempt Benefits 

  • Items like laptops, mobile phones, protective clothing may be FBT exempt if structured correctly 

Using a Trust? Don’t Forget Your Resolutions 

  • Ensure trustee resolutions are signed before 30 June to determine income distribution 
  • Review rulings affecting distributions to adult children (e.g. TR 2023/4, S100A considerations) 

Frequently Asked EOFY Business Questions 

When should I start EOFY planning? 

Start in April or May — early planning offers more strategic options. 

Is it worth prepaying business expenses? 

Yes, for SBEs. Prepayments up to 12 months can bring forward deductions. 

How do I know if I need a new structure? 

If your profit has grown or your goals have changed, it’s worth reviewing. Cosca can assess what’s most tax-effective. 

Are trust distributions taxed? 

Yes, but smart distribution strategies can minimise the overall tax payable across family members or entities. 

Get Ahead Now – Talk to Cosca 

EOFY isn’t just a deadline. It’s an opportunity. With the right advice, you can reduce your tax, protect your assets and plan confidently for FY26. 

Contact Us

Our Services