EOFY 2026 SME Tax-Saving Checklist

A short, practical list of the things worth checking before 30 June 2026. None of this is a substitute for advice from your registered tax agent, but it is the conversation starter, so you walk into that meeting knowing the questions to ask.

Work through it with your accountant. Tick what applies, flag what does not, and act before the financial year closes.

Assets and equipment

• Review planned equipment purchases. The $20,000 instant asset write-off is law for FY2025-26 and reverts to $1,000 from 1 July 2026 unless extended. If a sub-$20,000 purchase is coming and the timing is flexible, the deduction is larger if it is first used or installed by 30 June.
• Check whether any asset is genuinely needed. A write-off reduces tax, it does not pay for the asset. Only bring forward purchases you were going to make anyway.
• Write off or scrap obsolete assets and stock so they are off the books in this financial year.

Income and deductions timing

• Consider prepaying deductible expenses (rent, insurance, subscriptions, interest) where the rules allow, to bring the deduction into this year.
• Review debtors and write off genuinely bad debts before 30 June so they are deductible this year.
• Make sure all deductible expenses for the year are recorded and substantiated.

Superannuation

• Pay employee super early enough that it reaches the fund before 30 June if you want the deduction this year. Super is deductible when paid and received by the fund, not when it accrues.
• Note the change ahead: payday super starts 1 July 2026, so quarterly timing is about to end.
• Confirm super guarantee has been calculated at 12% on ordinary time earnings for the full year.

Company and structure matters

• If your private company has lent money to you or an associate, check the Division 7A minimum yearly repayment. The FY2025-26 benchmark rate is 8.37%. The repayment generally needs to be made by the company’s lodgement day.
• Review whether your company is a base rate entity (25%) or pays the standard 30% rate, since the passive-income mix can change it year to year.
• For trusts, make sure trustee resolutions distributing income are documented before 30 June.

ATO position

• Check what you owe the ATO and what interest is accruing. From 1 July 2025, the general interest charge is no longer tax-deductible, so an ATO debt is now more expensive after tax.
• Make sure BAS, PAYG and lodgements are up to date. A clean compliance record also matters if you plan to borrow.

Grants and incentives

• Check whether you have undertaken eligible research and development. The R&D Tax Incentive can return a refundable offset for businesses under $20M turnover, even in a loss year.
• Review whether any state or federal grants or incentives are open that fit your business. This is money many SMEs are entitled to and never claim.

Records and the year ahead

• Reconcile your accounts and make sure your records are clean before the year closes.
• Book the conversation with your accountant before 30 June, not after. The useful moves are the ones made before the year ends.

Want a hand working out which of these apply to your business? A Foothold Advisory Funding Health Check looks at exactly that, including the grants and incentives most SMEs miss.

General information only. This checklist provides general information about Australian tax concepts and is current as at 3 June 2026. It does not take into account your objectives, financial situation or needs, and it is not tax advice. Foothold Advisory is not a registered tax agent. Tax laws change and apply differently depending on your circumstances. Before acting, obtain advice tailored to your situation from a registered tax agent, and verify all figures against the ATO.