17/06/2026
It's End of Financial Year
Your to do check list
Businesses
- Start payday super from 20th June and pay any unpaid super on this date to get the tax deduction
- Super guarantee remains at 12%
- Minimum wage increases on 1 July
- Check if there is anything you need to buy for work. If yes buy now and have installed and ready for use before 30 June
- Consider pre-paying expenses
Individuals
- Check if you need/want to sell any capital items before the rules change. If there are lots, you may want to split it over 2 tax years
- If you are planning to put money into super and claim a tax deduction on it make sure your transfer it by 20 June
- If you use your car for work and wany to claim it make sure you have either logged all of your travel trips and kms or start a logbook before 30 June to use for your 2026 tax
- Start collating all of your invoices including; electricity, gas, internet, mobile, subscriptions, union fees, courses, donations, parking, uniform purchases, car expenses and stationery or other work-related items
- If you have earnt money aside from your employer start putting money aside for tax
- If you have a rental property, consider prepaying expenses
Remember with everything being digital there is nowhere to hide. Documentation and having good records is the key to claiming deductions.
Call us if you have any EOFY questions or would like to book in a time to complete your 2026 Tax Return.
