Before the financial year ends, there may still be practical steps worth reviewing around tax, super, deductions, cash flow and business planning.
EOFY is not just about lodging your tax return later. It is a chance to check your numbers now, understand your options, and avoid making rushed decisions without the full picture.
EOFY is not just about lodging your tax return later. It is a chance to check your numbers now, understand your options, and avoid making rushed decisions without the full picture.
As 30 June approaches, many business owners and individuals start asking the same questions:
Some EOFY actions can be helpful, but only when they make sense for your tax position, cash flow, timing and longer-term plans. A deduction is not always a reason to spend. A tax saving is not always a reason to rush. And a last-minute decision can create problems if the numbers have not been reviewed properly.
This checklist highlights seven areas worth reviewing before 30 June.
If you are a business owner or individual in Wollongong or the Illawarra region, EOFY is a good time to review your tax position, cash flow, payroll obligations and whether your accountant is giving you the right level of support. If you are unsure what applies to you, Brew Accounting can help you work through the numbers and make a clearer plan before the financial year ends.
- Can I still reduce my tax?
- Should I make extra super contributions?
- Is now the right time to buy assets?
- Am I claiming the right deductions?
- Should I be looking for a more proactive accountant?
- The answer depends on your circumstances.
Some EOFY actions can be helpful, but only when they make sense for your tax position, cash flow, timing and longer-term plans. A deduction is not always a reason to spend. A tax saving is not always a reason to rush. And a last-minute decision can create problems if the numbers have not been reviewed properly.
This checklist highlights seven areas worth reviewing before 30 June.
If you are a business owner or individual in Wollongong or the Illawarra region, EOFY is a good time to review your tax position, cash flow, payroll obligations and whether your accountant is giving you the right level of support. If you are unsure what applies to you, Brew Accounting can help you work through the numbers and make a clearer plan before the financial year ends.
1. Review Your Super Contributions Before 30 June
Super contributions can be one of the areas worth reviewing before 30 June, particularly if you are looking at your taxable income, retirement planning or personal cash flow.
For some people, making additional concessional contributions may provide a tax benefit. However, contribution caps, timing, eligibility and notice requirements all matter. It is also important to check what has already been contributed during the financial year before making extra payments.
For business owners, super should also be reviewed from an employer perspective. Outstanding super obligations, payroll accuracy and upcoming changes to super payment timing can all affect cash flow and compliance.
Before making additional contributions, it is worth checking:
| EOFY tip: Do not leave super decisions until the final days of June. Timing matters, and payments may need time to process.
For some people, making additional concessional contributions may provide a tax benefit. However, contribution caps, timing, eligibility and notice requirements all matter. It is also important to check what has already been contributed during the financial year before making extra payments.
For business owners, super should also be reviewed from an employer perspective. Outstanding super obligations, payroll accuracy and upcoming changes to super payment timing can all affect cash flow and compliance.
Before making additional contributions, it is worth checking:
- how much has already been contributed this financial year
- whether you are within the relevant contribution caps
- whether the contribution can be processed before 30 June
- whether the deduction or contribution strategy suits your overall position
- whether your payroll and super records are up to date
| EOFY tip: Do not leave super decisions until the final days of June. Timing matters, and payments may need time to process.
2. Think Carefully Before Buying Business Asset
Buying assets before EOFY can sometimes provide a tax benefit, but it should not be done just for the deduction.
If your business genuinely needs equipment, tools, technology, vehicles or other assets, EOFY may be a good time to review whether a purchase makes sense. However, eligibility, asset type, cost, business use and timing all need to be considered.
The key question is not simply, “Can I claim it?”
The better question is:
Does this purchase make commercial sense for the business?
An asset purchase may still affect cash flow, financing, GST, depreciation and future planning. If the purchase is rushed or unnecessary, the tax benefit may not outweigh the cost.
Before buying an asset, consider:
| EOFY tip: A deduction is helpful, but spending money just to save tax does not always leave you better off.
If your business genuinely needs equipment, tools, technology, vehicles or other assets, EOFY may be a good time to review whether a purchase makes sense. However, eligibility, asset type, cost, business use and timing all need to be considered.
The key question is not simply, “Can I claim it?”
The better question is:
Does this purchase make commercial sense for the business?
An asset purchase may still affect cash flow, financing, GST, depreciation and future planning. If the purchase is rushed or unnecessary, the tax benefit may not outweigh the cost.
Before buying an asset, consider:
- whether the business genuinely needs it
- whether it will be used for business purposes
- whether it will be ready for use before 30 June
- how it affects cash flow
- whether the deduction is available in your circumstances
- whether leasing, financing or delaying the purchase makes more sense
| EOFY tip: A deduction is helpful, but spending money just to save tax does not always leave you better off.
3. Check Your Tax Deductions and Records
EOFY is a good time to review whether your records are complete and whether you have captured the expenses you may be entitled to claim.
This does not mean guessing, rounding up or claiming everything that looks business-related. It means making sure your records properly support your claims.
Common areas to review may include:
Good records make tax time smoother. They also help your accountant give better advice because they are working from accurate information rather than incomplete data.
Before 30 June, it may be worth checking:
| EOFY tip: Better records can lead to better claims, fewer surprises and a clearer view of your financial position.
This does not mean guessing, rounding up or claiming everything that looks business-related. It means making sure your records properly support your claims.
Common areas to review may include:
- business expenses
- software and subscriptions
- insurance
- motor vehicle expenses
- home office costs
- training and professional development
- accounting and professional fees
- work-related expenses
- tools, equipment and digital products
- interest and finance costs
Good records make tax time smoother. They also help your accountant give better advice because they are working from accurate information rather than incomplete data.
Before 30 June, it may be worth checking:
- whether receipts and invoices are saved
- whether expenses are categorised correctly
- whether personal and business costs are clearly separated
- whether recurring subscriptions are still needed
- whether any expenses have been missed
| EOFY tip: Better records can lead to better claims, fewer surprises and a clearer view of your financial position.
Not Sure What Applies to Your Situation?
EOFY decisions depend on your income, structure, timing, cash flow and future plans.
Before making last-minute decisions, it is worth getting a clear view of the numbers.
Brew Accounting can help you review your position before 30 June and identify what actions may be worth considering.
Before making last-minute decisions, it is worth getting a clear view of the numbers.
Brew Accounting can help you review your position before 30 June and identify what actions may be worth considering.
4. Review Bad Debts and Unpaid Invoice
Unpaid invoices can affect more than cash flow. They can also affect how accurate your year-end numbers are.
Before EOFY, it is worth reviewing your accounts receivable and identifying which invoices are likely to be collected and which may no longer be recoverable.
This is especially important for businesses that have old customer balances, slow-paying clients or invoices that have been sitting unpaid for months.
A review of bad debts and unpaid invoices can help you:
This is not just a tax exercise. It is also a business health check.
| EOFY tip: If your receivables list is looking messy, 30 June is a good time to review what is actually collectible.
Before EOFY, it is worth reviewing your accounts receivable and identifying which invoices are likely to be collected and which may no longer be recoverable.
This is especially important for businesses that have old customer balances, slow-paying clients or invoices that have been sitting unpaid for months.
A review of bad debts and unpaid invoices can help you:
- clean up your accounts before year-end
- understand your real cash position
- identify collection issues
- review whether any amounts should be written off
- avoid carrying unrealistic income expectations into the next financial year
This is not just a tax exercise. It is also a business health check.
| EOFY tip: If your receivables list is looking messy, 30 June is a good time to review what is actually collectible.
5. Check Stock, Work-in-Progress and Timing
For some businesses, year-end results can be affected by stock, work-in-progress, invoicing and timing.
This is especially relevant for businesses in trades, retail, hospitality, construction, professional services and project-based work.
Before 30 June, it may be worth reviewing:
The goal is accuracy. Your accounts should reflect what is really happening in the business.
If stock, WIP or timing is not reviewed properly, your profit, tax position and cash flow planning may not be giving you the full picture.
| EOFY tip: Your tax result is only as good as the numbers behind it.
This is especially relevant for businesses in trades, retail, hospitality, construction, professional services and project-based work.
Before 30 June, it may be worth reviewing:
- stock on hand
- obsolete or damaged stock
- work-in-progress
- jobs completed but not yet invoiced
- invoices issued before or after year-end
- income received in advance
- expenses paid before year-end
- supplier bills and outstanding costs
The goal is accuracy. Your accounts should reflect what is really happening in the business.
If stock, WIP or timing is not reviewed properly, your profit, tax position and cash flow planning may not be giving you the full picture.
| EOFY tip: Your tax result is only as good as the numbers behind it.
6. Prepare for Payday Super
Payday Super is a major change for employers.
From 1 July 2026, employers will need to pay super guarantee at the same time as wages, rather than quarterly. This means payroll processes, cash flow and super payment timing will become even more important.
For employers, now is a good time to review whether payroll systems and processes are ready.
Areas to check may include:
If payroll and super already feel messy, Payday Super may make those issues more visible.
| EOFY tip: This is not just a compliance change. It may also affect how employers manage cash flow each pay cycle.
From 1 July 2026, employers will need to pay super guarantee at the same time as wages, rather than quarterly. This means payroll processes, cash flow and super payment timing will become even more important.
For employers, now is a good time to review whether payroll systems and processes are ready.
Areas to check may include:
- payroll software setup
- employee super details
- super payment timing
- cash flow impact
- payroll reporting processes
- clearing house arrangements
- internal payroll responsibilities
- whether current processes are already causing delays or errors
If payroll and super already feel messy, Payday Super may make those issues more visible.
| EOFY tip: This is not just a compliance change. It may also affect how employers manage cash flow each pay cycle.
7. Consider Whether It Is Time to Review Your Accountant
EOFY is not only a time to review your numbers. It can also be a good time to review whether you are getting the right level of support.
If you only hear from your accountant at tax time, or if you are often unsure where your tax, cash flow or business position stands, it may be time to ask whether your current setup is working for you.
Signs you may need a more proactive accountant include:
Changing accountants does not need to be complicated, but it should be done thoughtfully. EOFY can be a natural time to start the conversation, especially if you want better support moving into the new financial year.
| EOFY tip: The right accountant should help you understand the numbers, plan ahead and make better decisions.
If you only hear from your accountant at tax time, or if you are often unsure where your tax, cash flow or business position stands, it may be time to ask whether your current setup is working for you.
Signs you may need a more proactive accountant include:
- you are often surprised by your tax bill
- your questions take too long to get answered
- you are not sure what deductions or planning options apply to you
- you only receive compliance support, not advice
- your business has grown but the support has not changed
- your bookkeeping, payroll or tax planning feels disconnected
- you want clearer guidance before decisions are made, not after
Changing accountants does not need to be complicated, but it should be done thoughtfully. EOFY can be a natural time to start the conversation, especially if you want better support moving into the new financial year.
| EOFY tip: The right accountant should help you understand the numbers, plan ahead and make better decisions.
Looking for a Proactive Accountant in Wollongong?
Brew Accounting works with individuals, business owners and growing local businesses who want more than once-a-year tax support.
Our approach is practical, clear and proactive. We help clients understand their numbers, stay on top of obligations, and make better decisions around tax, cash flow, payroll and business planning.
Whether you are preparing for EOFY, reviewing your current accountant, or looking for clearer advice before the new financial year, Brew Accounting can help you work through the details.
Why Clients Work With Brew Accounting:
✅ Clear, practical advice
✅ Support for individuals and business owners
✅ EOFY tax planning and review
✅ Business advisory and accounting support
✅ Payroll, super and compliance guidance
✅ A proactive approach to planning ahead
Ready to Review Your EOFY Position?
If you want a clearer view before 30 June, now is a good time to start the conversation.
Our approach is practical, clear and proactive. We help clients understand their numbers, stay on top of obligations, and make better decisions around tax, cash flow, payroll and business planning.
Whether you are preparing for EOFY, reviewing your current accountant, or looking for clearer advice before the new financial year, Brew Accounting can help you work through the details.
Why Clients Work With Brew Accounting:
✅ Clear, practical advice
✅ Support for individuals and business owners
✅ EOFY tax planning and review
✅ Business advisory and accounting support
✅ Payroll, super and compliance guidance
✅ A proactive approach to planning ahead
Ready to Review Your EOFY Position?
If you want a clearer view before 30 June, now is a good time to start the conversation.
For ongoing support beyond EOFY, Brew Accounting also provides business accounting, tax and advisory services for individuals and businesses in Wollongong.
Frequently Asked Questions
When should I start EOFY tax planning?
Ideally before 30 June, so there is still time to review your position and consider any actions that may apply.
Can I still reduce my tax before 30 June?
It depends on your circumstances. Super contributions, deductions, asset purchases, bad debts and timing may be worth reviewing, but advice should be specific to your situation.
Should I buy assets before EOFY to reduce tax?
Only if the purchase makes commercial sense. A deduction does not automatically mean the business is better off.
Is EOFY a good time to change accountants?
Yes, it can be a natural time to review whether your accountant is proactive, responsive and helping you plan ahead.
Does Brew Accounting help businesses in Wollongong?
Yes. Brew Accounting works with individuals, business owners and local businesses looking for clearer support around tax, accounting, payroll and business planning.
The information here is general in nature and does not consider your specific circumstances. Please seek professional advice before making tax, superannuation or financial decisions.
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