EOFY Tax Planning Tips Every Ipswich Business Should Know in 2026

In 2026, Ipswich businesses are dealing with more EOFY opportunities than most owners realise. With the $20,000 instant asset write-off extended to 30 June 2026, the super guarantee rate now at 12%, and ATO interest charges no longer tax deductible from this financial year onwards, the moves you make in the next few weeks can put thousands back in your pocket.

Whether you're a sole trader preparing your first full year of returns, a small company managing depreciation and employee entitlements, or a family business weighing up distributions before 30 June, the right EOFY strategy isn't just about compliance — it's about keeping more of what you've earned.

Skyways Accountants helps Ipswich businesses turn EOFY from a stressful deadline into a strategic advantage, starting with a free consultation to review your specific situation.

Below, we cover the highest-impact moves every Ipswich business should consider before 30 June, and how to avoid the mistakes that cost thousands.

Why does EOFY planning matter more in 2026?

The 2025-26 financial year has delivered more tax planning opportunities than any year since the COVID stimulus measures. The instant asset write-off sits at $20,000 until 30 June 2026, then drops back to $1,000 — meaning this is the last month to claim the higher threshold. Meanwhile, ATO interest charges lost their tax deductibility from this income year, making late payments and outstanding debts materially more expensive.

For Ipswich businesses carrying ATO debt or behind on BAS lodgements, the cost of delay has effectively increased by your marginal tax rate. A $10,000 debt attracting 8.37% interest now costs the full amount — no deduction to offset it.

What should an Ipswich business do before 30 June?

Review your deductions, accelerate any planned purchases under $20,000, and finalise your super contributions. The instant asset write-off requires assets to be installed and operational by 30 June — not just ordered. Concessional super contributions must reach the fund by 30 June to count toward this year's $30,000 cap, and bad debts must be physically written off in your books before the deadline.

Essential EOFY moves for Ipswich businesses

• Instant asset write-off purchases: any business assets under $20,000 each can be immediately deducted if your aggregated turnover is under $10 million and the asset is installed by 30 June 2026.
• Concessional super contributions: contribute up to $30,000 to super (including the compulsory 12% SG) and claim an immediate tax deduction — money must reach the fund by 30 June.
• Prepaid expenses (12-month rule): small businesses can deduct prepaid expenses covering up to 12 months if payment is made before 30 June — insurance, rent, subscriptions, and software licences.
• Bad debt write-offs: any genuinely uncollectable debts must be written off in your accounting records before 30 June to claim the deduction this year.
• Stock valuations: trading businesses should conduct physical stocktakes and adjust valuations — cost of goods sold affects your taxable profit.
• Timing capital gains: consider whether to realise gains or losses before 30 June, especially if you're eligible for the 50% CGT discount or small business CGT concessions.

How do Ipswich Business Accountants help with EOFY planning?

Your EOFY strategy depends on your business structure, cash flow, and growth plans — variables that interact in ways most business owners don't have time to map out. An experienced EOFY tax planning service identifies opportunities you'd miss, coordinates timing across multiple strategies, and ensures nothing gets overlooked in the 30 June rush.

We review your year-to-date position, calculate your likely tax outcome, and identify the highest-value moves for your specific situation. For most Ipswich businesses, the tax savings from professional EOFY planning exceed the advisory fee by a factor of five or more.

The EOFY mistakes Ipswich businesses make most often

Waiting until July to think about EOFY planning is the biggest mistake — by then, most opportunities have passed. The instant asset write-off requires assets to be delivered, installed, and ready for use by 30 June, not just ordered. Super contributions need to physically reach the fund, not just be initiated. Prepaid expenses need to be paid and cover services starting before 30 June.

The second mistake is focusing only on deductions while ignoring income timing. If you're expecting a large invoice payment in early July, consider whether delaying it affects your tax outcome. Sole traders and partnerships pay tax on invoiced amounts, while companies pay on cash received — the structure changes the timing strategy completely.

Advanced EOFY strategies for growing businesses

Family businesses should review their distribution strategies before 30 June. Trust distributions must be resolved by the trustee before year-end, and the right mix of adult beneficiaries can significantly reduce the family's overall tax bill. The ATO's Section 100A focus means distributions need genuine economic substance — adult children receiving distributions should genuinely control the income.

Companies with retained profits should consider whether franked dividends or salary adjustments make sense before 30 June. Division 7A catches directors who take money from the company without proper loan documentation, and the deemed dividend consequences apply from the moment the loan is made. For businesses considering equipment purchases, compare the instant asset write-off against traditional depreciation — some assets may deliver better long-term benefits through the general depreciation pool.

Frequently Asked Questions

When is the deadline for EOFY tax planning moves?

30 June 2026 for most strategies. Asset purchases must be delivered and operational, super contributions must reach the fund, and bad debts must be written off in your books — all by the final day of the financial year.

Can I still claim the $20,000 instant asset write-off?

Yes — until 30 June 2026, then the threshold drops to $1,000. Your aggregated turnover must be under $10 million and the asset must cost under $20,000 each. Multiple assets can be claimed as long as each individual item is under the threshold.

How much can I contribute to super this year?

The concessional contribution cap for the 2025-26 financial year is $30,000 total, including your employer's compulsory 12% super guarantee contributions. Additional voluntary contributions are tax deductible if you're under the cap.

What counts as a prepaid expense for the 12-month rule?

Insurance premiums, rent, software subscriptions, and other services where you pay in advance for up to 12 months of coverage. The service period must start before 30 June and the expense must genuinely relate to earning your income.

Do I need to lodge my tax return by 30 June?

No — the lodgement deadline is 31 October 2026 for individuals doing their own returns, or 15 May 2027 if you use a registered tax agent. But the planning strategies (asset purchases, super contributions) must be completed by 30 June.

Should I do EOFY planning myself or use an accountant?

An Ipswich business accountant, every time — for any business with employees, significant deductions, or complex structures. The tax savings from professional EOFY planning typically exceed the advisory fee by 5:1 or more, and you avoid costly mistakes that can't be unwound after 30 June.

What happens if I miss the 30 June deadline?

You lose the opportunity for that financial year. Asset purchases made after 30 June count toward the following year's deductions, super contributions count toward next year's cap, and the instant asset write-off threshold drops to $1,000 from 1 July 2026.

Your Next Steps

Your EOFY planning deserves more than a last-minute rush through receipts and invoices. The right approach can save thousands in tax while positioning your business for a stronger year ahead — which is exactly what a tailored consultation is designed to deliver.

Ready to find out what your EOFY plan should look like? Contact the Skyways Accountants team for a free consultation or call 0400 348 482. We'll review your current position, identify the highest-impact moves for your situation, and ensure nothing gets overlooked before 30 June.