April 24, 2026

What Should Your Business Be Doing Before 30 June? (Tax Planning, Super Changes, and the Checklist You Actually Need)

Article Summary:

The end of the financial year is less than three months away, and 2025–26 comes with some big changes that affect how you plan, what you can claim, and how you pay your people going forward. This article walks through the key things SME owners should be doing — or at least thinking about — before 30 June, including making the most of the $20,000 instant asset write-off before it drops back to $1,000, getting your tax position in order, and starting to prepare now for Payday Super so you’re not scrambling when it kicks in on 1 July. The good news? You don’t have to figure it all out alone.

Why This EOFY Matters More Than Most

Fuel prices have increased significantly in 2026 due to global supply disruptions and local cost Every end of financial year comes with a to-do list. But this one’s a bit different.

The 2025–26 financial year is the last year for the $20,000 instant asset write-off at its current threshold. From 1 July 2026, it drops to just $1,000 — which for most businesses is barely a laptop. At the same time, Payday Super starts on 1 July, which fundamentally changes how and when you pay superannuation. And the ATO’s broader compliance focus on small business isn’t easing up.

The point isn’t to create panic. It’s to make sure you’ve got time to act while you still have options. The sooner you start, the more flexibility you’ll have.

Make the Most of the $20,000 Instant Asset Write-Off

If your business has an aggregated annual turnover of less than $10 million, you can immediately deduct the cost of any eligible asset under $20,000. That’s per asset — so if you need a new laptop, a welder, a commercial fridge, or a trailer, each one qualifies separately as long as it’s under the threshold.

The key dates: the asset needs to be first used or installed ready for use between 1 July 2025 and 30 June 2026. That means buying something on 28 June isn’t enough — it has to be in use or ready to go before the financial year closes.

This matters more than usual because from 1 July 2026, the threshold drops to $1,000. That’s not a typo. The difference between claiming a $15,000 piece of equipment this year versus next year is significant. If there’s something your business genuinely needs, now is the time to bring that purchase forward.

A few things to keep in mind:

Only buy what your business actually needs. A tax deduction isn’t free money — you’re still spending cash. The write-off reduces your taxable income, but it doesn’t make an unnecessary purchase a good idea.

The $20,000 threshold is per asset, not total. You can claim multiple items as long as each one costs less than $20,000.

The asset must be used or installed ready for use before 30 June. If you’re ordering equipment, factor in delivery times — especially in regional areas where freight can take longer.

Talk to your accountant before you buy. They can help you work out whether the timing makes sense for your cash flow and tax position, not just the deduction itself.

Get Your Tax Position in Order

Tax planning isn’t something that happens on 29 June. The most effective EOFY preparation starts now — while there’s still time to make decisions that actually shift the outcome.

Here’s what that looks like in practice:

Review your estimated taxable income. Look at where your profit is tracking compared to last year. If you’re heading for a higher tax bill than expected, there may be legitimate ways to bring forward deductions or defer income.

Write off bad debts before 30 June. If there are invoices you know you’re never going to collect, formally writing them off before year-end lets you claim the deduction. Check with your accountant on the process — there’s a specific way it needs to be documented.

Prepay expenses where it makes sense. Small businesses using the simplified tax system can claim an immediate deduction for prepaid expenses — things like insurance, rent, or software subscriptions — where the service period is 12 months or less and ends before 30 June 2027.

Check your super obligations. To claim a deduction for super contributions in 2025–26, the payment must be received by the fund before 30 June. Don’t leave it to the last week — clearing houses and funds can take several business days to process payments. The SG rate is 12% for this financial year.

Review your PAYG instalments. If your business income has dropped or your circumstances have changed, you may be able to vary your PAYG instalments to reduce the amount you’re prepaying. This can free up cash flow in the short term.

Make sure your records are up to date. Bank reconciliations, receipt filing, stock on hand — the cleaner your books going into year-end, the smoother (and cheaper) the process will be. If you’re a few months behind on your bookkeeping, now is the time to catch up.

None of this needs to be complicated. But it does need to happen before 30 June, not after.

Payday Super Is Coming — Start Practising Now

From 1 July 2026, the way you pay super changes fundamentally. Under the current system, super is due quarterly. Under Payday Super, you’ll need to pay super at the same time you pay wages, and the funds must be received by the employee’s super fund within seven business days.

That’s a significant shift — especially for businesses that have been managing super as a lump-sum quarterly cost. If you’re running payroll fortnightly, super now becomes a fortnightly obligation too.

Here’s the thing: you don’t have to wait until July to start. In fact, the smartest move you can make right now is to start practising.

What that looks like:

Start paying super with each pay run now. Even though it’s not mandatory until July, switching early lets you iron out the process, test your systems, and adjust your cash flow before there are penalties on the line.

Check your payroll software. Most cloud-based payroll systems like Xero and MYOB are updating to support Payday Super. Make sure yours is set up correctly and that you know how the new process works before it becomes compulsory.

Review your clearing house. If you’ve been using the ATO’s Small Business Super Clearing House, it closed to new users in October 2025 and existing users lose access on 30 June 2026. You’ll need to move to an alternative clearing house or pay funds directly. Don’t leave this to the last minute.

Plan for the cash flow impact. Under the quarterly system, you’ve had up to three months to accumulate the super funds. Under Payday Super, that buffer disappears. If you’re paying fortnightly wages, you need fortnightly super cash ready too. Build that into your cash flow forecasts now.

Understand the penalties. From 1 July 2026, late super payments attract the Superannuation Guarantee Charge, plus general interest charges from the day after the due date. Penalties can reach 25% of the unpaid amount — or 50% for repeated non-compliance. The ATO has indicated a softer approach in the first year for businesses making genuine efforts, but the obligations are real from day one.

The businesses that will find this transition easiest are the ones that start adjusting now, while the stakes are low. Think of the next three months as your dress rehearsal.

Your Pre-30 June Action List

If you take one thing from this article, let it be this: book a conversation with your accountant or bookkeeper before the end of May. That gives you enough time to review your position and actually act on it, rather than rushing through decisions in the last week of June.

Here’s a simple checklist to work through:

Review your estimated profit and tax position for 2025–26

Identify any asset purchases you’ve been planning — consider bringing them forward before the $20,000 write-off expires

Write off any bad debts formally before 30 June

Ensure all super for the year is paid and received by the fund before 30 June

Consider prepaying eligible expenses (insurance, rent, subscriptions) before year-end

Make sure your bookkeeping is reconciled and up to date

Start paying super each pay cycle now — get your systems and cash flow ready for Payday Super

Confirm your clearing house arrangement is sorted before 30 June

Book a pre-EOFY planning meeting with your accountant or bookkeeper

FAQs

Can I claim the $20,000 instant asset write-off on a vehicle?

You can, but the car cost limit applies to passenger vehicles. For the 2025–26 year, the car limit caps the amount you can claim. If you’re looking at a ute or van that’s primarily for business use and isn’t classified as a car under ATO rules, different rules may apply. Your accountant can walk you through what’s claimable based on your specific situation.

What happens if I buy an asset but it’s not delivered before 30 June?

Purchasing the asset isn’t enough — it needs to be first used or installed ready for use before 30 June 2026. If it arrives in July, it won’t qualify under the $20,000 threshold. Factor in delivery and installation times, especially if you’re in a regional area where freight takes a bit longer.

Does Payday Super apply to all employees?

Yes. From 1 July 2026, Payday Super applies to all employees who are eligible for super guarantee. The super must be paid at the same time as wages and received by the fund within seven business days. This applies regardless of whether you pay weekly, fortnightly, or monthly.

Will I get penalised if I’m a day or two late with super under the new rules?

The ATO has indicated a softer compliance approach during the first year (1 July 2026 to 30 June 2027) for employers making genuine efforts. However, the general interest charge still applies from the day after the due date. The best way to avoid issues is to have reliable systems in place and start practising before July.

I’m using the ATO’s Small Business Super Clearing House — what do I do?

Existing users of the SBSCH have access until 30 June 2026, but it’s closing after that. You’ll need to transition to a commercial clearing house or pay super directly through your payroll software. Your bookkeeper or accountant can help you choose the right option and set it up before the deadline.

When should I be talking to my accountant about all of this?

Now. Or as close to now as possible. Ideally, you want to have your pre-EOFY planning conversation no later than May so there’s time to act on any recommendations. Leaving it until the last week of June means you’re reacting, not planning.

Finish the Year on Your Terms

There’s a lot happening this EOFY, but none of it needs to be overwhelming. The key is giving yourself enough time to make considered decisions rather than last-minute ones. A couple of conversations with the right people, a few smart moves before 30 June, and some early preparation for Payday Super — and you’ll head into the new financial year in a strong position.

Need Help Getting Ready for 30 June?

Our Business Advisory and Strategic Accounting teams work with SME owners across regional and South East Queensland to make EOFY planning straightforward. Whether you need help reviewing your tax position, understanding the instant asset write-off, or getting your payroll systems ready for Payday Super, we’re here to help you get it sorted — without the stress.

Get in touch with your Cosca accountant or bookkeeper to book a pre-EOFY planning session. The sooner you start, the more options you’ll have.