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As the end of the financial year (EOFY) approaches, many Australian business owners find themselves in one of two camps: calmly reviewing their financials—or frantically trying to piece everything together. With the right preparation and guidance, it can actually be a powerful opportunity to optimise your business finances and plan for a successful year ahead.
We’ve created an EOFY checklist to help you stay on track, avoid costly mistakes, and maximise your tax-time benefits.
Before anything else, make sure your bookkeeping is up to date. This includes:
• Bank and credit card reconciliations
• Receipts and invoices (preferably digitised)
• Accurate profit and loss statements
• Updated balance sheets
Having your records in order is the first step to making smart financial decisions—and it’s essential for a smooth experience with your accountant.
Now’s the time to review all possible deductions:
• Business-related expenses like utilities, rent, and vehicle use
• Prepaid expenses (like insurance or subscriptions)
• Superannuation contributions paid before June 30
• Depreciation on assets or equipment
Pro tip: Speak with your advisor about instant asset write-offs and small business concessions that could reduce your tax bill this year.
Make sure:
• Employee payroll is up to date
• Superannuation contributions are paid on time (before June 30 to claim a deduction)
• You’ve finalised Single Touch Payroll (STP) reporting for the financial year
EOFY is a great time to review your payroll processes and ensure compliance with current ATO requirements.
If you have debts that are unlikely to be recovered or inventory that can’t be sold, writing them off before EOFY may allow you to claim them as deductions. Be sure to document your decisions clearly for tax records.
EOFY isn’t just about closing the books—it’s a chance to refresh your business strategy. Use this time to:
• Set goals for the new financial year
• Review your budget and cash flow forecasts
• Consider any structural changes or tax planning opportunities
A proactive conversation with your accountant now can unlock benefits that carry through all year.
At Attune Advisory, we help businesses across Australia navigate EOFY with confidence. Our team of experienced accountants and business advisors can help you:
• Understand your financial position
• Identify opportunities for savings
• Stay compliant and in control
Don’t wait until June 30 to start preparing. Let us help you tune into what matters most—your business growth.
Book your EOFY review via email or call the team on 1300 866 113 and let’s make sure you’re all set.
Between public holidays, shifting workloads and EOFY preparations, the April–June quarter can feel like a stop-start sprint. For many business owners, it's a time of disruption — a mix of long weekends and looming deadlines that can leave cash flow, operations and planning in a state of flux.
This seasonal unpredictability makes financial agility more important than ever. So how can you stay proactive, flexible, and in control when business momentum becomes inconsistent?
Here are some practical strategies to keep your business financially agile through a choppy quarter:
A clear, up-to-date view of your cash position is essential — especially when revenue may dip due to reduced trading days or delayed payments.
If you haven't reviewed your cash flow forecast recently, now's the time. Adjust for:
Mapping out your expected inflows and outflows for the next 90 days helps you avoid surprises and make more confident decisions.
Stop-start periods can skew your monthly budget. You might be overspending in one area (e.g., staffing) and underspending in another (e.g., marketing) without realising it.
Review your budget alongside actual performance to identify any discrepancies. Look at:
Regular check-ins — even mid-month — can help you course-correct early and avoid larger issues down the track.
Rather than fighting against the patchy nature of the quarter, try building your activity around it. Consider:
By anticipating disruptions and weaving them into your planning, you create breathing room — without losing momentum.
Lean into tools that help you stay across your numbers, even when you're not at your desk. Cloud accounting software, cash flow apps, and real-time dashboards can give you instant visibility over your finances.
This lets you:
Financial agility often comes down to having the right data at your fingertips — and acting on it. The Attune team can assist with putting some tech in place to help you with your automation and assessments, so reach out to the team if you’re considering upgrading how you manage your numbers.
The end of financial year creeps up quickly, especially when you’re juggling interruptions. Now is the time to:
A little preparation now can smooth the transition into the new financial year — and help you end this quarter on a strong note.
At Attune Advisory, we work with business owners year-round to build financial strategies that flex with the seasons. Whether you're looking to stabilise cash flow, refine your structure, or plan for EOFY, we’re here to help.
Let’s make this quarter count — even with a few stop signs along the way. Give the team a call on 1300 866 113 or send us an email to start the conversation – you’ll be glad you did.
With the third quarter of our current financial year right behind us, and the end of the financial year now approaching fast, it's crucial for everyone to be aware of key tax lodgement deadlines to ensure compliance and avoid potential penalties.
One significant date to adhere to is May 15, which serves as the lodgement due date for many taxpayers. It’s fast approaching and may take some time to prepare your lodgement, so to start with, let’s get familiar with the details (below). Then, as soon as you’re able, we suggest starting the preparation process in the lead up to May 15 – the Attune Advisory team are here to help …
The May 15 deadline applies to individuals and trusts that:
• Have no outstanding prior year tax returns as of June 30, 2024.
• Are not classified as large or medium trusts (those with annual total income exceeding $10 million).
• Do not have a tax liability of $20,000 or more based on their latest return.
• Are not new registrants.
For a comprehensive list of lodgement due dates based on specific circumstances, refer to the Australian Taxation Office (ATO) guidelines.
You’ll find this page on the ATO website to be useful for more information: Individuals and trusts outline.
The ATO offers a concessional extension for tax returns due on May 15, allowing individuals, partnerships, and trusts to lodge by June 5, 2025, without incurring penalties, provided any payment due is also made by this date.
The payment due date for tax liabilities depends on when the return is lodged:
• Up to February 12, 2025: Payment is due by March 21, 2025.
• Between February 13 and March 12, 2025: Payment is due by April 21, 2025.
• From March 13, 2025, onwards: Payment is due by June 5, 2025.
These staggered payment arrangements ensure taxpayers have adequate time to meet their obligations.
Failing to lodge your tax return by the due date can result in penalties and interest charges. Moreover, timely lodgement ensures you remain compliant with tax laws and can assist in better financial planning for the upcoming year.
With the May 15 deadline fast approaching, now is the time to prepare all relevant documentation and engage Attune Advisory to begin the lodgement process. Let's get ahead of tax deadlines and make sure you remain compliant and in the best tax position possible for the next financial year. Give the team a call on 1300 866 113 or send us an email to start the conversation – you’ll be glad you did.
The Australian Government has handed down the 2025-26 Federal Budget, packed with measures aimed at easing cost-of-living pressures, stimulating business activity, and reinforcing tax compliance. While headline announcements like personal income tax cuts and energy bill relief make waves, there are also critical updates that could impact individuals, businesses, and investors.
With that in mind, we’ve broken it down to help you more quickly find what you need to know…
From 1 July 2026, all taxpayers will benefit from a two-stage tax cut, reducing the tax rate for income between $18,201 and $45,000 from:
• 16% to 15% (2026-27 financial year)
• 15% to 14% (from 2027-28 onwards)
For the average Australian, this translates to a tax saving of up to $268 in 2026-27, increasing to $536 from 2027-28 onwards.
While not as substantial as previous tax reform efforts, these adjustments provide modest relief—particularly for low and middle-income earners—in an economy where wages are expected to grow slowly.
From 1 July 2024, the Government is raising the Medicare levy low-income threshold, ensuring that those earning below the threshold are exempt from paying the levy.
This change is expected to cost $648 million over five years and will provide tax relief for Australians struggling with cost-of-living increases.
To combat rising utility costs, the Government has extended energy rebates for all households and small businesses:
• $150 will be credited to household energy bills in quarterly instalments from 1 July to 31 December 2025.
• Small businesses will also receive similar relief.
This initiative will cost $1.8 billion over two years and aims to cushion energy price volatility.
Two-Year Ban on Foreign Buyers of Established Homes
From 1 April 2025, foreign and temporary residents—as well as foreign-owned companies—will be banned from purchasing existing homes. This measure seeks to prevent "land banking" and free up housing stock for local buyers.
Help to Buy Scheme Expansion
The Government’s Help to Buy scheme allows eligible Australians to co-purchase a home with the Government, reducing the required deposit and mortgage burden.
Key changes:
However, the program is not yet open for applications, with details still pending. We’ll keep you updated as the scheme opens up.
From 2027, non-compete clauses will be banned for employees earning under the Fair Work Act’s high-income threshold (currently $175,000 per year).
Additionally, new laws will prohibit anti-competitive agreements between businesses that:
These changes reflect broader efforts to increase job mobility, boost wages, and promote fair competition.
Beer Excise Tax Frozen for Two Years
The excise tax on draught beer will be paused for two years from August 2025, keeping beer prices stable.
Higher Caps for Alcohol Producers
From 1 July 2026, the excise remission cap for breweries, distilleries, and winemakers will increase from $350,000 to $400,000 per year, providing tax relief to the alcohol industry.
Trade Tariffs on Russia & Belarus Extended
Australia will maintain an additional 35% tariff on Russian and Belarusian imports as a continued sanction measure.
The Australian Taxation Office (ATO) has received $999 million in funding over four years to expand compliance programs, targeting:
These programs are expected to recover $3.2 billion in additional tax revenue, meaning increased scrutiny for businesses and high-income earners.
There’s never been a better time to have the Attune team on your side to ensure you remain compliant with all of your tax obligations – business and personal.
The Government is reducing reliance on external consultants, contractors, and labour hire, aiming to save $718 million by 2028-29.
While this aligns with broader efforts to streamline spending, it may have ripple effects on private sector firms that provide outsourced government services.
Slow Growth Ahead
The Australian economy is expected to grow by 2.25% in 2025-26, rising slightly to 2.5% in 2026-27.
Budget Deficit & Rising Debt
The underlying cash balance is forecast to be in deficit at -$42.1 billion for 2025-26, with national debt climbing to 21.5% of GDP by 2025-26, increasing to 23.1% by 2028-29.
Wages & Employment
• Wages are forecast to grow by 3% in 2025 and 3.25% in 2026.
• Unemployment is expected to peak at 4.25% in the coming years.
Inflation & Cost of Living
• Inflation is forecast to settle at 2.5% by mid-2025.
• Energy rebates and rent assistance have helped slow price growth.
Global Trade Risks
• Trade tensions between China, the U.S., and Australia remain a concern.
• New retaliatory tariffs could impact export sectors like agriculture & mining.
This Budget delivers a mix of cost-of-living relief, tax cuts, business reforms, and compliance crackdowns. While the measures offer some short-term financial relief, longer-term economic risks remain.
At Attune Advisory, we here to help you and your businesses navigate policy changes and optimise your financial strategies. Our approach is not only to help you remain compliant from a tax perspective, but plan for the future while assessing how other parts of the economy could affect you or your operations.
If you’d like to discuss how the Budget affects you specifically, get in touch with Attune Advisory today on 1300 866 113 or send us an email to start the conversation – you’ll be glad you did.
