In addition to the usual EOFY tasks, this year brings two changes Australian small businesses need to plan around. Payday Super starts on 1 July 2026, and the ATO’s Small Business Superannuation Clearing House is closing for good. On top of that, the $20,000 instant asset write-off has been made permanent from 1 July 2026. Both changes affect how you spend, report, and plan for the months ahead.

This article walks you through everything you need to prepare for EOFY 2026, with tips from James Scott, founder of small business accounting firm JD Scott + Co. You’ll also find an interactive checklist at the end to help you track your progress.

This article covers general EOFY tasks and considerations for Australian small businesses, and is not tax advice. Speak to your accountant about how these apply to your situation.

1. Know your deadlines

Most EOFY deadlines for 2025-26 are unchanged from last year. The exception is superannuation: the Q4 quarterly payment (due 28 July 2026) will be the final one under the current system before Payday Super takes effect on 1 July.

EOFY and tax return deadlines

  • 30 June 2026: End of the 2025-26 financial year
  • 14 July 2026: Employers must finalise Single Touch Payroll (STP) data
  • 31 October 2026: Tax return deadline if you’re self-lodging
  • 15 May 2027: Extended deadline if using a registered tax agent (you must be registered with your agent before 31 October 2026)

BAS deadlines (quarterly lodgers)

  • 28 October 2025: Q1 (July to September 2025)
  • 28 February 2026: Q2 (October to December 2025)
  • 28 April 2026: Q3 (January to March 2026)
  • 28 July 2026: Q4 (April to June 2026)

Superannuation deadlines

  • Quarterly super must be received by the fund by the 28th of the month after each quarter ends
  • To claim a deduction in 2025-26, super must be paid AND received by the fund before 30 June 2026
  • The super guarantee rate for 2025-26 is 12%, up from 11.5% in 2024-25. Factor the increase into your year-end calculations.
  • Final quarterly SG payment (Q4, April to June 2026) is due by 28 July 2026. This is the last quarter under the current rules before Payday Super kicks in.

For a full list of lodgement and payment dates, see the ATO’s due dates by month. A missed deadline can mean penalties, interest, or lost deductions. You can add all EOFY key dates to your calendar with one click (works with Google Calendar, Outlook, and Apple Calendar).

2. Strengthen your cash flow before 30 June

James recommends starting with your work-in-progress and outstanding debtors. “Ask yourself: what can I bill, what can I finalise, and what can I realistically collect before the end of the month?” Unsent invoices or long-overdue payments can often be nudged across the line with a phone call, a reminder email, or a small incentive like an early payment discount.

If your business has the cash available, now is also a good time to prepay expenses you’ll need early next year. Things like rent, software subscriptions, or insurance may be deductible in this financial year if the service period is 12 months or less, helping reduce your taxable income.

As part of your EOFY tax planning, James also recommends taking a closer look at your overheads. “You don’t want to cut essential services, but EOFY is a natural point to reassess where your money is going. Sometimes you’re still paying for things you no longer use or need.”

Book a tax forecast with your accountant now. A quick check-in can give you clarity on your obligations and help you plan how to meet them.

3. Get your books and records in order

Your accountant can’t prepare an accurate return from incomplete books, and gaps discovered in October cost more to fix than gaps found in May.

  • Reconcile all bank accounts, credit cards, and loans to 30 June. Every transaction should match your accounting software. If you have unreconciled items from earlier in the year, clear them now.
  • Write off bad debts before 30 June. If a debt is genuinely unrecoverable, processing the write-off before year-end means you won’t pay tax on income you’ll never receive. Your accountant can confirm deductibility.
  • Enter all bills received before 30 June. For accrual-basis businesses, expenses need to be recorded in the correct period, even if they haven’t been paid yet.
  • Check your GST coding. Look for private expenses coded to the business, missing GST on cash purchases, or coding inconsistencies. These are common ATO audit triggers.
  • Update your asset register. If you’ve purchased or disposed of business assets during the year, make sure your records are current. This supports your accountant in calculating depreciation and helps you claim what you’re entitled to.

4. Reconcile payroll and finalise STP

  • Cross-check payroll records against your STP submissions, bank payments, and BAS lodgements. This helps ensure your end-of-year reporting is accurate and avoids complications when you finalise STP.
  • Process any bonuses or commissions before 30 June. Anything you want reflected in this year’s income statements needs to be through the books before the financial year closes. Let your bookkeeper or payroll team know early. Last-minute pay runs on 29 June are how errors creep in.
  • Confirm leave balances are correct. Discrepancies often surface when employees check their income statements. Better to catch them now than field questions after 14 July.
  • Finalise STP by 14 July 2026. After your last pay run for the year, finalise your Single Touch Payroll data. This generates income statements so your employees can lodge their own tax returns.
  • Check super on terminated employees. If anyone left during the year, confirm their final super was paid. Unpaid super on former employees is a gap that ATO data matching picks up regularly.

5. How early do you need to pay super to claim a deduction?

Super contributions must be received by the employee’s fund before 30 June for you to claim a deduction in the 2025-26 financial year. Sending the payment isn’t enough. Transfers can take several business days, sometimes longer through clearing houses, so mid-June is a sensible cutoff for sending payments.

  • Pay employee super well before 30 June. The super guarantee rate for 2025-26 is 12% of ordinary time earnings. Allow at least two weeks for processing and clearing.
  • Consider personal super contributions. If your accountant or financial adviser has recommended personal contributions, make sure the payment reaches your fund in time and you lodge a Notice of Intent to Claim before your tax return is lodged.

6. Can you still use the $20,000 instant asset write-off?

Yes. The $20,000 instant asset write-off is available for businesses with aggregated turnover under $10 million. It allows an immediate deduction for eligible depreciating assets costing less than $20,000 each, provided they’re first used or installed ready for use before 30 June 2026.

After three years of last-minute annual extensions, the government confirmed in the May 2026 budget that the $20,000 threshold is now permanent. That’s one less deadline to worry about. But if you want to claim the deduction in this financial year, the asset still needs to be operational in your business before 30 June.

  • Review any planned equipment, technology, or vehicle purchases. If you’ve been considering a buy, bringing it forward before 30 June could reduce your tax bill.
  • Remember the threshold is per asset, not a total. You can claim multiple assets as long as each one costs less than $20,000.
  • Make sure the asset is used or installed ready for use before 30 June. Purchasing alone isn’t enough. It needs to be operational in your business by the deadline.

One word of caution: don’t buy things you don’t need for the sake of a deduction. The write-off reduces the after-tax cost, it doesn’t make the purchase free. As James puts it: “Spending a dollar to save 25 cents isn’t a strategy.”

Talk to your accountant about whether any planned purchases should be brought forward. And if you need funding to act on a time-sensitive opportunity, a Prospa Small Business Loan can help you move quickly.

7. Maximise your deductions

Beyond the instant asset write-off, there are a few things worth reviewing with your accountant before the numbers lock in on 30 June.

  • Check for outstanding inter-entity loans. If your business operates across multiple entities or you’ve borrowed from the company in your director capacity, now’s the time to tidy up those loan balances. When loans aren’t properly documented or repaid, they could trigger Division 7A tax consequences, meaning the ATO may treat them as taxable dividends. This won’t apply to every small business, but when it does, it’s often overlooked.
  • Review trust distributions or dividends before 30 June. If you operate through a trust or company, distribution resolutions may need to be completed before year-end. Missing this deadline can have serious tax consequences, so raise it with your accountant early.

James also suggests using this time to reflect on profitability, not just at a top-line level, but client by client or product by product. “Some might look like strong performers at a glance but are actually draining your time or cash once you factor in effort, delays, or discounts.” Even a quick review can help clarify what’s worth keeping, what needs adjustment, and what to step away from in the new year.

For more on what you can claim, check out our full guide to small business deductions.

8. How should you prepare for Payday Super?

From 1 July 2026, employers must pay super at the same time as salary and wages, replacing the current quarterly payment cycle. Contributions must reach the employee’s fund within seven business days of payday. It takes effect the day after EOFY, so the time to prepare is now.

  • Review your payroll system. Confirm it can handle pay-cycle super payments rather than quarterly batches. Talk to your software provider about any updates or configuration changes needed.
  • Transition away from the ATO Small Business Superannuation Clearing House (SBSCH). The SBSCH closes on 1 July 2026. If you currently use it, you’ll need to move to an alternative SuperStream-compliant provider before then.
  • Download your SBSCH transaction history before 30 June 2026. Once the service closes, you may not be able to retrieve past records.
  • Check that employee super fund details are up to date. Incorrect or outdated fund information will cause payment failures under the tighter timelines.
  • Understand the new penalty structure. Under Payday Super, the super guarantee charge (SGC) applies per payday rather than quarterly. Penalties of 25% or 50% can apply for non-compliance. The ATO has released PCG 2026/1 outlining a risk-based compliance approach for the first year, with low, medium, and high risk zones.

The cash flow impact is also worth thinking about. If you currently batch super quarterly, switching to every pay cycle changes the rhythm of your outgoings. For example, $20,000 in quarterly super becomes roughly $3,300 leaving your account every fortnight alongside wages. If that transition puts pressure on your working capital, a Prospa Line of Credit can help smooth out the gaps.

There’s no rule against paying super on payday before 1 July. Practising now gives you a chance to iron out issues while the stakes are lower.

For more detail on the new rules, visit the ATO’s Payday Super hub or Fair Work’s overview of Payday Super.

9. Lodge on time, even if cash is tight

You don’t need to have the cash ready to lodge on time.

James sees this trip up business owners every year. “Lodging on time keeps you in good standing and gives you a clearer picture of where things sit, even if the year didn’t meet expectations.” It also puts you in a stronger position to negotiate a payment plan with the ATO if you need one.

Late or missing lodgements can also affect your ability to access finance. Lenders often request recent BAS or tax documents when assessing applications, especially around EOFY when cash flow tightens. Keeping your records current helps avoid delays if you need fast access to funding.

The ATO has also updated its approach to late lodgements. If you submit your BAS late, they may require you to start lodging monthly instead of quarterly, which adds pressure to your cash flow and increases your reporting costs.

It’s also worth noting that from 1 July 2025, the ATO General Interest Charge (GIC) on overdue tax debts is no longer tax-deductible. If you’re carrying a tax debt, falling behind is now more expensive than it used to be.

If you’re unsure what you owe or when to lodge, speak to your accountant as soon as possible. They may be able to access extended deadlines or help you plan a strategy for managing any outstanding debt.

Your EOFY checklist

Here’s a summary of the actions that matter most.

Small Business EOFY Checklist 2025–26