What is the EOFY in Australia?

EOFY, or End of Financial Year, in Australia ends on June 30. It marks the deadline for businesses to finalise financial records, pay superannuation contributions, and prepare for annual tax obligations.

What should be done before June 30 for EOFY?

Before June 30, businesses should reconcile accounts, finalise payroll, pay super contributions, write off bad debts, and work with accountants on tax minimisation strategies.

What are the key post-EOFY deadlines?

Key post-EOFY deadlines include STP finalisation by July 14, Q4 BAS and super payments by July 28, TPAR submission by August 28, and company tax returns by October 31.

Is the EOFY checklist the same for all business types?

No, EOFY requirements vary by business structure. Sole traders, companies, partnerships, and trusts each have specific reporting and compliance obligations.

What are common EOFY mistakes to avoid?

Common mistakes include missing the super payment deadline, failing to finalise STP, forgetting trust distribution resolutions, and not backing up records.

What industries have extra EOFY requirements?

Construction (TPAR reporting), healthcare (Medicare levy checks), retail (stocktake), and professional services (work-in-progress adjustments) all have extra EOFY tasks.

What if I’m not ready by June 30?

If you're not ready, prioritise payroll and super payments, gather essential documents, speak with your accountant urgently, and use an emergency action plan to manage late preparation.

The Ultimate EOFY Checklist for Australian Businesses (2025 Edition)

Hagar Lipa
Jun 25
3 min read

Updated: 6 days ago

As the Australian financial year wraps up on June 30, it’s crucial for every business—no matter the size or structure—to prepare thoroughly for tax obligations, compliance requirements, and strategic planning.

This EOFY checklist is your go-to guide. Whether you're a sole trader, trust, partnership or company, this article breaks down pre- and post-EOFY tasks, industry nuances, and emergency action items—in a practical, easy-to-follow format.

Quick Reference: Key EOFY Dates 2025

Date	Deadline
June 30	End of Financial Year
July 14	STP Finalisation (Single Touch Payroll)
July 28	Q4 BAS + Superannuation Contributions Due
August 28	Taxable Payments Annual Report (TPAR)
October 31	Company Tax Returns (unless agent-lodged)

EOFY Checklist Overview

Pre-EOFY Checklist (Complete by June 30)

Financial Tasks:

Reconcile bank accounts and credit cards
Finalise payroll and STP data
Write off bad debts
Review stock/inventory for obsolescence
Prepay deductible expenses (e.g. rent, insurance)
Conduct asset review and depreciation
Pay super contributions before June 30 for deductibility

Strategic Housekeeping:

Update business and marketing plans
Review pricing structures and supplier agreements
Assess cash flow and capital expenditure
Consider trust resolutions (for discretionary trusts)

Tax Planning:

Work with your accountant on tax minimisation strategies
Maximise deductions and small business concessions
Review Division 7A loans (for companies)
Document Director Resolutions if applicable

Post-EOFY Checklist (July–October)

Payroll & Reporting:

Finalise STP (Single Touch Payroll) by July 14
Issue PAYG summaries if required
Lodge BAS (Business Activity Statement) Q4 by July 28
Make super payments by July 28 to avoid penalties

ATO Reporting:

Lodge TPAR (if applicable, e.g. construction, cleaning) by August 28
Prepare and lodge income tax returns (individual, partnership, trust, company)
Review Division 293 notices (superannuation tax for high earners)
Reconcile GST and PAYG instalments

Industry-Specific EOFY Requirements

Industry	Additional Considerations
Construction	Lodge TPAR; track contractor payments
Healthcare	Reconcile Medicare levy surcharge implications; review service contracts
Professional Services	Ensure accurate work-in-progress and deferred income treatment
Retail/Hospitality	Conduct stocktake; assess seasonal staff contracts

Entity-Specific Checklists

Sole Traders

Separate business and personal expenses
Claim home office and car expenses (logbook required)
Declare business income in personal return

Partnerships

Prepare partnership distribution statement
Lodge a separate partnership return (even if no tax payable)

Trusts

Prepare trustee resolutions by June 30
Allocate trust income to beneficiaries properly
Ensure trust deed is up to date

Companies

Finalise Director Fees/Dividends
Address Division 7A loan repayments
Ensure financial statements are ready for ASIC/ATO

Emergency Action Plan (If You're Behind)

If it’s already late June and you’re scrambling:

Step-by-Step Rescue Plan:

Prioritise Payroll & Super – Finalise and pay by June 30
Gather Key Financial Records – Invoices, expenses, and bank statements
Contact Your Accountant ASAP – Request an extension if necessary
Defer Non-Essentials – Focus on critical compliance first
Set Reminders for Post-EOFY Deadlines – Don’t let July 14 or July 28 slip

Common EOFY Mistakes to Avoid

Missing the superannuation cut-off for tax deductibility
Failing to back up cloud accounting files
Forgetting trust distribution minutes
Overlooking personal use of business assets
Ignoring low-value asset instant write-off thresholds

Tools & Resources

ATO Small Business Newsroom: ato.gov.au
STP & BAS tools: Check with your accounting software provider (Xero, MYOB, QuickBooks)
EOFY Toolkit: Click here
Trusted advisors: Book a tax planning review session with your accountant before June 30

Final Thoughts

EOFY isn’t just a compliance exercise—it’s a strategic opportunity to clean up, plan ahead, and improve your business’s financial health. By using this checklist, you’ll stay compliant, reduce tax liabilities, and set a strong foundation for FY2026.

Need tailored support? Contact our team of tax and business advisors to help you get EOFY-ready—without the stress.