The End of Financial Year (EOFY) rolls around fast, and it’s a key time for small business owners to get on top of tax planning, compliance, and strategy.
At Oculus, we’re here to make sure EOFY is as stress-free as possible for our Gold Coast clients.
Here’s a handy guide to help you prepare – including important dates to remember, action items to tick off, and tips to make the most of EOFY 2025.
Key EOFY Dates to Mark in Your Calendar
- 15 June 2025 – Final day to make any super contributions for employees if you want them counted in this financial year (must be received by the fund, not just processed).
- 30 June 2025 – EOFY cut-off. All income and expenses for 2024–25 must be finalised.
- 14 July 2025 – You should have issued income statements (formerly payment summaries) to your employees via STP by this date.
- 28 July 2025 – Quarterly superannuation payments due (for April–June quarter) – but remember, to claim a tax deduction for super, you need to have paid it before 30 June.
- 31 July 2025 – Finalise and lodge your TPAR (Taxable Payments Annual Report) if you’re in construction, cleaning, courier, IT, or security services.
- 28 August 2025 – Deadline for lodging your quarterly BAS if you’re a quarterly reporter.
EOFY Prep Checklist for Small Business Owners
Here’s what you should be doing in June to get ahead:
✅ Reconcile your accounts – Ensure all income, expenses, and bank transactions are up to date.
✅ Review your asset purchases – If you’re considering investing in equipment or vehicles, speak with us about whether you can claim immediate deductions before the 30th June.
✅ Check your superannuation payments – Make sure they’re up to date and paid on time for tax deduction purposes.
✅ Review debtors and write off bad debts – If customers aren’t going to pay, you may be able to claim a deduction.
✅ Stocktake – If your business carries inventory, now is the time to complete a stocktake for accurate reporting.
✅ Meet with your accountant – A pre-30 June planning session with our Oculus team can uncover valuable deductions and opportunities.
Small Business Tips for EOFY
- Back up your files – Ensure your accounting software and business records are securely backed up.
- Review your structure – EOFY is a great time to assess whether your current business structure is still the right fit for your goals.
- Talk to us about tax planning – From trusts to timing income and deductions, a little planning can make a big difference.
We’re Here to Help
EOFY doesn’t have to be overwhelming. At Oculus, we help small businesses across the Gold Coast stay compliant, minimise tax, and plan for a strong new financial year.
Whether you need help with reconciliations, reporting, or strategy – we’ve got your back.
Let’s get your EOFY sorted.
Book a meeting with the Oculus team today and glide into the new financial year with confidence.
