EOFY is Around the Corner – Here’s Your Small Business Finance Checklist ✅
The End of Financial Year (EOFY) is fast approaching, and for Australian small businesses, that means it’s time to get your finances in order. Whether you’re a sole trader, partnership, or small company, preparing early can help you avoid last-minute panic, make the most of tax benefits, and set your business up for the new financial year.
At DeMarque Finance, we work closely with small business owners to help them plan, grow, and thrive — especially during critical periods like EOFY. Here’s your go-to EOFY finance checklist to help you finish the year strong and start the next one even stronger.
✅ 1. Organise and Reconcile Your Financial Records
First things first: your books need to be accurate and up-to-date. Review and reconcile your financial records for the year to ensure everything matches — including:
- Bank statements
- Supplier invoices
- Customer payments
- Business loan statements
- Receipts and petty cash
- Employee payroll records
Using accounting software like Xero, MYOB, or QuickBooks can simplify this process. If your records are messy, now’s the time to clean them up or get support from a bookkeeper or accountant.
Pro Tip: Make sure all financial activity up to June 30 is properly recorded. This will help speed up your tax return and reduce the risk of errors.
✅ 2. Review Your Business Structure and Expenses
EOFY is a great time to assess whether your current business structure is still the most tax-effective. As your business grows, your financial and legal needs may change.
Also review your major expenses for the year. This includes:
- Rent and utilities
- Salaries and superannuation
- Asset and equipment purchases
- Insurance premiums
- Loan interest and finance charges
Some of these may be eligible for deductions or tax incentives, so speak with your accountant to make the most of what’s available.
✅ 3. Take Advantage of Instant Asset Write-Offs and Temporary Full Expensing
If you’ve invested in plant, equipment, tools, or vehicles this year — or are planning to before June 30 — you may be able to claim the full cost as a tax deduction under the Instant Asset Write-Off or Temporary Full Expensing rules.
These incentives can significantly reduce your taxable income and improve cash flow. Eligible items include:
- Commercial vehicles
- Office equipment
- Machinery and tools
- IT hardware and software
Need help financing last-minute EOFY purchases? DeMarque Finance offers fast-tracked equipment and vehicle loans so you can take action before the deadline.
✅ 4. Assess Cash Flow and Consider a Working Capital Boost
EOFY is a good time to reflect on your cash flow performance for the year. Are you carrying a seasonal cash shortfall? Have you been stretching to pay suppliers or BAS?
If your cash flow has been under pressure, it might be time to consider:
- A business overdraft for ongoing flexibility
- A short-term working capital loan to cover tax obligations or supplier payments
- Invoice finance solutions to unlock unpaid receivables
At DeMarque Finance, we work with a panel of lenders to find low-doc and full-doc finance options tailored to your business needs and industry.
✅ 5. Pay Employee Superannuation by the Deadline
Super contributions for your employees must be paid by 30 June if you want to claim them as a deduction this financial year. This includes regular Super Guarantee payments and any salary sacrifice contributions.
Make sure you process payments early, as clearing houses can take a few business days to finalise transfers. Late payments will not only lose you the tax deduction but could also attract penalties from the ATO.
✅ 6. Lodge BAS and Tax Returns on Time
Business Activity Statements (BAS) and your final income tax return are critical EOFY obligations. Even if you expect a refund or aren’t lodging immediately, it’s important to prepare all necessary reports and documentation now.
Work with your accountant to ensure:
- GST is properly reconciled
- PAYG instalments and withholding are accurate
- Depreciation and capital allowance schedules are updated
- You’re claiming every eligible deduction
✅ 7. Plan for Tax Payments — Don’t Get Caught Out
Once you’ve finalised your return, you’ll have clarity on your tax payable. It’s best to plan ahead rather than scramble to find the funds last-minute.
If you’re expecting a large tax bill and want to spread the cost, DeMarque Finance can help structure a business tax loan that fits your repayment capacity and avoids penalties or stress.
✅ 8. Review Debtors and Write Off Bad Debts
Now is the time to chase up outstanding customer invoices. Not only will this help your cash position, but you can also write off any bad debts before June 30 and claim a deduction.
To do this legally, the debt must be:
- Previously included in your assessable income
- Written off in your records before EOFY
- Considered unrecoverable after all reasonable attempts
If chasing payments is a recurring headache, we can also connect you with invoice finance solutions to get paid faster — without the drama.
✅ 9. Review Existing Loans and Finance Structures
EOFY is the perfect time to review your current finance facilities, including:
Are you paying too much in interest? Are your repayments affecting cash flow? DeMarque Finance can help you refinance or restructure your facilities for better rates and terms heading into the new financial year.
✅ 10. Prepare a Budget and Finance Strategy for the New Financial Year
EOFY shouldn’t just be about wrapping up — it’s also about planning ahead.
- What are your revenue targets for next year?
- Are you looking to expand, hire more staff, or upgrade equipment?
- Will you need new funding to meet growth opportunities?
A proactive finance strategy can make all the difference. At DeMarque Finance, we work one-on-one with business owners to structure smart, forward-looking funding plans that fuel sustainable growth.
Don’t Leave It to the Last Minute – EOFY Support is Available Now
The countdown to June 30 is on, and it’s one of the busiest times of year for both small businesses and their advisers. The earlier you start, the more options you have — and the better the outcome for your business.
At DeMarque Finance, we specialise in:
- Equipment and vehicle loans
- Business overdrafts
- Working capital loans
- Commercial property finance
- Invoice finance
- Tax payment solutions
Whether you need fast funding before the deadline, want to restructure your debt, or just want a second opinion on your business finance strategy — we’re here to help.
Speak to DeMarque Finance Today
EOFY is more than just tax time — it’s a powerful opportunity to reset, refocus, and rebuild with better financial foundations.
Call us or book a free finance strategy session today to get tailored EOFY advice that aligns with your goals, industry, and cash flow needs.
Let’s make this EOFY your strongest one yet. ✅
Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal, nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced, or republished without prior written consent. © DEMARQUE GROUP PTY LTD 2025. All rights reserved.
