The clock on your kitchen wall says mid-June. You glance at the calendar, see 30 June circled in red, and feel that familiar tightening in your chest. Last year you promised yourself you would not leave it this late again. Yet here you are, two weeks out, with a stack of receipts, a few unpaid invoices, and a nagging feeling that you are about to miss something that matters.
If that sounds like you, take a breath. You still have time to make decisions that could lower your tax bill, as long as you act now and act in the right order. This is your last-minute EOFY checklist 2026 for small business in Australia, built for owners who have a fortnight, not a month.
The big trap at this time of year is timing. Many of the best tax moves only count if the action is completed, paid, installed, or written off before 30 June. Process it on 1 July and the benefit slides into next year. So let us work through the highest-value actions first.
Buy and install eligible assets before 30 June
The instant asset write-off is back in play for the 2025 to 2026 income year. The ATO confirms that eligible small businesses with an aggregated turnover under $10 million can immediately deduct the cost of eligible assets that cost less than $20,000, provided the asset is first used or installed ready for use between 1 July 2025 and 30 June 2026. This sits within the simplified depreciation rules for small business entities. You can read the detail on the ATO instant asset write-off page.
The key word is installed. Ordering a piece of equipment is not enough. If it has not arrived and is not ready to use by 30 June, the deduction waits until next year. If you have been holding off on a needed laptop, tool, or piece of machinery, this is the fortnight to act, not the week after.
Pay your superannuation early so it lands in the fund in time
This one catches more business owners than any other. To claim a deduction this financial year, employee super must reach the fund by 30 June, not simply leave your bank account by then. Clearing houses can take several business days to process, so a payment made on 29 June may not arrive until July.
If you want June super to count for this year, pay it in the next few days and give the clearing house room to move. Leave it too late and you lose the deduction for this year, even though the money is gone from your account. Worth noting too: Payday Super rules begin from 1 July 2026, so the way you handle super is about to change. The Fair Work summary on Payday Super is a useful starting point if you want to prepare early.
Bring forward deductible expenses where it makes sense
For a small business, some prepaid expenses can be immediately deductible this year under the 12-month rule. This generally applies to payments for services to be provided over a period of 12 months or less that ends in the next income year, such as insurance, subscriptions, or rent you were going to pay soon anyway. The rules are specific, so check with us before you commit cash you might need for July.
The point is not to spend for the sake of spending. It is to bring forward costs you genuinely intend to incur, so the deduction lands in the year you want it.
Write off genuine bad debts before year end
If a customer is never going to pay, you may be able to claim that amount as a bad debt, but only if it is genuinely bad and formally written off in your accounts before 30 June. A debt you simply feel pessimistic about does not qualify. You need a bona fide commercial assessment that the debt is unlikely to be recovered, evidence of your recovery attempts, and a written record that you have written it off.
Run through your aged receivables this week. Identify the invoices that are truly unrecoverable and document the decision properly.
Review trading stock and complete your stocktake
If your business holds inventory, you generally need to value your trading stock at 30 June. You can value each item at cost, market selling value, or replacement value, which is what lets you write down obsolete or damaged stock to a lower figure and reduce your taxable income. Smaller businesses may not need a full stocktake if the estimated difference between opening and closing stock is $5,000 or less, but if you carry meaningful inventory, it is worth doing properly. The business.gov.au EOFY checklist is a solid plain-English reference for the broader year-end tasks.
Tidy up the records the ATO expects you to have
A deduction is only as strong as the paperwork behind it. For motor vehicle claims under the logbook method, that means logbooks, business use evidence, and odometer records. For home office costs, you need records of hours worked and how the space is used. Overclaiming without evidence is one of the fastest ways to attract attention you do not want.
Spend an hour this week making sure your reconciliations are up to date, your bank feeds are matched, and your BAS and payroll reports are current. If your bookkeeping has fallen behind, this is the gap to close before year end.
A quick word on getting it right
Every business is different, and the rules above have conditions and exceptions that depend on your turnover, structure, and circumstances. The general information here is a starting point, not personal advice. If you want certainty, we are happy to walk through your specific position before 30 June.
If a fortnight feels tight, you do not have to sort it alone. Our team helps Melbourne business owners make these calls every June, and a short tax planning session now can be the difference between a deduction claimed and a deduction lost. You can reach the team here whenever you are ready. No pressure, just practical help when you want it.
Questions Melbourne business owners ask most
Do I need to pay super by 30 June or just process it?
It must reach the fund by 30 June to be deductible this year. Processing it through your software is not the same as the money arriving, so allow time for the clearing house.
Can I still claim assets under $20,000 in 2026?
Eligible small businesses can, if the asset costs less than $20,000 and is installed ready for use by 30 June. Confirm your eligibility before you buy.
What if my BAS or bookkeeping is behind?
Get it current before year end where you can. It protects your deductions and makes lodgement far smoother. We can help you catch up quickly if you are stuck.