With 30 June approaching, now is the time to review your position and make sure everything is in order before year-end.
EOFY is a busy period with strict cut-off dates, and acting early gives you more control over your tax position and helps avoid missed deductions or compliance issues. It is particularly important this year with the introduction of Payday Super from 1 July 2026.
A Key Focus This Year – Superannuation
The main area of focus this year is superannuation.
To claim a tax deduction in the 2026 financial year, super contributions must be paid and received by the employee’s super fund before 30 June. As outlined in our article on Payday Super, employers will soon need to pay super alongside wages rather than quarterly.
Before entering the new financial year, businesses should ensure all 2025 and 2026 super obligations are fully paid and cleared.
Super payments should be made well before 30 June to allow time for processing through clearing houses. Leaving payments until late June increases the risk that funds are not received in time, which can delay your tax deduction.
Key Pre-30 June Actions
Our Pre-30 June Checklist outlines the key steps to complete before year end. The main areas to focus on include:
Superannuation
Bring forward June quarter super payments and confirm they have been received by the fund before 30 June.
Financial Records
Make sure your accounts are up to date. This includes bank reconciliations, outstanding debtors and creditors, and a clear view of your current position.
Tax Planning
Review available deductions and consider any actions that should be taken before year end. This may include prepaying expenses, writing off bad debts, or reviewing asset purchases.
Trusts and Compliance
Ensure trust resolutions are completed before 30 June and that all compliance requirements are on track.
Cash Flow
Plan for upcoming tax liabilities and consider the impact of more frequent super payments from 1 July 2026.
Access the Full Checklist
For a full list of actions to complete before 30 June, refer to our Pre-30 June Checklist
This checklist is designed as a practical guide to help you stay on track and ensure nothing is missed.
Final Thoughts
The lead up to 30 June is an important time to review your position and act. This year, it’s important to ensure your superannuation obligations are up to date before the transition to Payday Super. Getting this right now will put you in a stronger position for the upcoming financial year.
If you haven’t started your end-of-financial-year (EOFY) planning yet, now is the time to begin.
