On 29 May 2026 the ATO published a roughly 30-page tax-time toolkit for small business. Assistant Commissioner Angela Allen said the goal is “to make it easier for small business owners to get their tax and super right”. With 30 June a month away, it is a sensible prompt to start the EOFY run now rather than in the last week of June.
What the toolkit covers
The toolkit covers expense claims and record-keeping, payday super (which starts on 1 July 2026), home-based business and motor vehicle deductions, software subscriptions and CGT on property. It also covers withdrawing money from companies and trusts and the steps involved in closing a business. It is a practical document; if any of those topics apply to you, the relevant section is worth ten minutes.
Why the ATO is paying attention
The small business income tax gap stands at $27.2 billion, so expect continued focus on record-keeping and expense claims. One change raises the cost of getting it wrong: the general interest charge and the shortfall interest charge are no longer tax-deductible, which makes ATO debt more expensive to carry than it used to be. Pre-filled returns are also coming for sole traders, so the ATO will increasingly see your income data before you lodge.
EOFY moves to consider before 30 June 2026
- Use the $20,000 instant asset write-off if a purchase makes commercial sense. The FY2025-26 threshold is law and ends 30 June 2026. The Budget announced a permanent $20,000 threshold from 1 July 2026 but that is not yet law, so do not bank on it.
- Deductible super contributions must reach the fund by 30 June. Allow processing time; a payment made on 30 June that lands in July becomes next year’s deduction.
- Migrate off the Small Business Superannuation Clearing House before it closes on 30 June. If you have not picked a replacement channel yet, this is the week to do it.
- Review your debtors and write off genuine bad debts before 30 June. The debt must actually be bad, not merely slow; the write-off must happen before year end.
- Do a stocktake if your business is required to complete one.
None of these moves should be driven by tax alone. Spending $20,000 to save a fraction of it in tax only makes sense if the asset was worth buying anyway.
The forward calendar
Payday super begins on 1 July 2026; if you run payroll, build it into your cashflow planning now rather than discovering it in July. The Annual Wage Review decision is expected within weeks. The current national minimum wage is $24.95 an hour, which is $948.00 a week. Wait for the decision before locking in pay rates and wage budgets for 2026-27.
The toolkit is available via the ATO small business newsroom.
Before you act
This update is general information only; it is not tax or financial advice. EOFY decisions, particularly asset purchases, super timing and bad debt write-offs, depend on your circumstances. Confirm with a registered tax agent before acting.