Guides · 15 October 2026

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Tax planning before 30 June: a checklist for small business owners

Tax planning in the last week of June is mostly panic buying. Done in March or April, it’s a calm conversation with real options.

Why timing matters

Most legitimate tax decisions need to be made, and often paid for, before 30 June. Leave it late and the only lever left is spending money, which is rarely the best one.

The checklist

1. Estimate this year’s profit. Take year-to-date figures from your software and project to 30 June. Without this number, nothing else is planning.
2. Check your turnover band. Many concessions depend on aggregated turnover thresholds such as $10M, $5M and $2M. Our concessions guide lists them.
3. Review how profit reaches you. Wages, dividends, trust distributions and super contributions are taxed differently. The right mix depends on your structure and family situation.
4. Super contributions. Contributions generally have to be received by the fund before 30 June to count, and caps apply. Check with your adviser.
5. Assets you genuinely need. If you were going to buy it anyway, timing can matter. See the instant asset write-off and vehicle guide.
6. Bad debts. Debts you’ve genuinely given up on may need to be written off before year end.
7. Stock and records. Do a stocktake, tidy reconciliations and collect receipts.
8. Cash for the bill. Whatever the result, work out when the tax is due and set it aside now.

The test for any idea

Would it make commercial sense without the tax benefit? If not, it probably isn’t a good idea. And the ATO looks at arrangements whose main purpose is a tax benefit.

How we use this

We sit down with owners before the rush and run scenarios on real numbers, alongside your registered tax agent. If you have a code, the calculators are on the Got a code? page.

Quick answers

When should a small business start tax planning?

Ideally in March or April, once you have nine months of figures, so there’s time to act before 30 June.

Is buying assets before 30 June a good tax strategy?

Only if the business genuinely needs them. A deduction saves a portion of the cost, not all of it.

General information only. This doesn’t take your circumstances into account and isn’t tax, financial or legal advice. Talk to your accountant or registered tax agent before acting. PRM is not a registered tax agent; tax agent services are provided by Australian Tax & Super Pty Ltd (TPB 25291395).