EOFY 2025 Tax Tips for Australian Small Businesses – Stay Compliant and Maximise Returns

As the 2025 financial year draws to a close, small businesses across Sydney and Australia are facing a busy and important tax season. With the ATO sharpening its compliance focus and new reporting obligations emerging, business owners must act early to stay compliant, reduce risks, and make the most of available deductions.

In this article, we share key EOFY 2025 tax tips every small business should be aware of.

1. Maximise Your Deductions

EOFY is the time to carefully review your expenses and claim all eligible deductions, including:

Business-related travel, equipment, and software subscriptions.
Repairs, office supplies, and professional services.
Depreciation on assets under the instant asset write-off rules (subject to ATO thresholds).

💡 Tip: Keep proper receipts and digital records. The ATO is placing greater emphasis on substantiation this year.

2. Review Superannuation Contributions

Superannuation remains one of the most effective ways to manage both retirement savings and tax liabilities.

Ensure all super guarantee (SG) contributions are paid before 30 June.
Consider additional concessional contributions if it makes sense for your tax planning.

Failing to meet deadlines may result in penalties and loss of deductions.

3. Maintain Accurate Record-Keeping

With compliance checks increasing, cloud-based accounting systems are now more valuable than ever.

Store invoices, contracts, and receipts digitally.
Reconcile bank accounts regularly.
Keep detailed records of R&D claims, contractor payments, and payroll.

Good record-keeping not only keeps you compliant but also makes the lodgment process smoother.

4. Manage Cash Flow Ahead of Lodgment

Many businesses underestimate how much they’ll need to pay at tax time.

Review your profit and loss reports now.
Set aside funds for your tax bill.
Plan for PAYG instalments if required.

Strong cash flow planning ensures your business avoids last-minute stress.

5. Seek Professional Advice Early

EOFY is not just about compliance — it’s also a chance to improve tax efficiency and plan for growth. Working with a chartered accountant can help you: