As the financial year wraps up, many business owners fall into the trap of viewing End of Financial year (EOFY) as just another compliance task. But it’s more than ticking boxes and lodging forms—EOFY is a strategic opportunity to evaluate your business’s performance, minimise your tax, and lay the groundwork for smarter decisions in the year ahead.

Here’s how an EOFY tax review and proactive planning with Yield Business Advisory can benefit your business well beyond June 30.

A strategic reset for your business

EOFY offers a natural pause to reflect on what’s working, what’s not, and where you’re heading. A detailed review of your income, expenses, and financial position can reveal trends and gaps you may have missed during the year. It’s a great time to revisit your goals, refine your budget, and make informed decisions going forward.

Improving cash flow through forward planning

Tax planning done early can have a big impact on your bottom line. Bringing forward deductible expenses, deferring income, or making super contributions before June 30 are all options that can reduce your tax bill and improve cash flow. The key is to take action before the deadline—once the year ends, opportunities are lost.

Checking in on compliance

EOFY is also a checkpoint for compliance. Reviewing your BAS, superannuation payments, payroll reporting (including STP), and employee entitlements helps ensure your records are accurate and obligations are met. Our professional team at Yield Business Advisory are experts at getting on top of this now and reducing the risk of errors or audits down the track.

Taking advantage of incentives and deductions

Government tax incentives change frequently, and many business owners aren’t aware of what they’re eligible for. From the instant asset write-off to industry-specific grants or rebates, an EOFY review helps identify which incentives apply to your situation—ensuring you’re not leaving money on the table.

Linking tax planning with long-term goals

EOFY is the ideal time to talk to us at Yield Business Advisory about more than just this year’s return. Whether you’re looking to expand, invest in new equipment, change your business structure or prepare for succession, strategic tax advice can ensure these plans are implemented in the most tax-effective way.

Making your EOFY review session count

To get the most out of your EOFY review, come prepared. Key documents might include profit and loss reports, payroll records, superannuation statements, receipts for major purchases, and details of any changes in your business operations. The more accurate your records, the more tailored our advice to you will be.

EOFY is a planning tool, not just a deadline

When used strategically, EOFY becomes more than an administrative deadline—it’s a chance to strengthen your business. With the right planning, you can improve cash flow, minimise tax, and set yourself up for a more confident and profitable year ahead.

Need help with your EOFY review? Reach out to our team at Yield Business Advisory today to lock in your strategy session and take control of your tax planning.