As we cross the midpoint of the 2025–26 financial year, it’s an ideal time to pause, assess your financial position and make strategic decisions to maximise your tax outcomes before the 30 June year-end.

As you are aware, Australian tax law operates on a July-to-June cycle, and the decisions you make now can materially affect your tax liabilities, compliance obligations and cash flow.

For individuals, sole traders and business entities alike, being proactive — from ensuring your books are up-to-date, planning superannuation contributions, reviewing trust distributions, to understanding upcoming lodgment dates — helps avoid last-minute stress and potential penalties. Speak with your Indigo Financial adviser early about planning opportunities and key compliance obligations that apply to your specific structure and circumstances.

Below is a comprehensive list of what should be happening now, what you should prepare and what key dates you need to be aware of in the second half of the financial year.

Ongoing/Now — Actions to be doing in the second half of the financial year

General ongoing tasks (all clients)

1. keep accounting records accurate and reconciled
   Finalise and reconcile bank accounts, sales, purchases and payroll to date — this makes year-end accounting and tax planning much smoother.
2. review budgets and cash flow projections
   Assess your cash flow forecasts for the remainder of the year, including likely tax liabilities, super payments and BAS or instalment requirements.
3. track deductible expenses throughout the year
   For individuals and businesses, keep supporting documentation for all deductions (receipts, logbooks, diaries). ATO compliance is increasingly data-matched.
4. update your Single Touch Payroll (STP) reporting
   Ensure your payroll data is accurate and up to date — STP finalisation reconciles wages, tax withheld and super.
5. consider tax-planning strategies with your accountant
   Meet with your Indigo Financial adviser to discuss:

• deferring or accelerating income
• prepaying eligible expenses
• asset purchases and depreciation planning
• superannuation contributions (personal and employer)
• Division 7A loans and trust allocation.

Key dates to watch (2025–26 financial year)

July 2025

• 1 July — Start of 2025–26 financial year. Transactions from this date count for FY26.
• 14 July — Deadline to provide PAYG payment summaries to employees (if not using STP).
• 21 July — Lodge/pay June BAS (monthly GST/PayG if registered monthly).
• 28 July — Q4 BAS lodged and paid (Apr–Jun) for quarterly lodgers; Super Guarantee due for Q4 (Apr–Jun).

August 2025

• 14 August — Lodge PAYG withholding annual payment summary report (if required; often replaced by STP Phase 2 reporting).

September 2025

• Regular BAS and payment obligations (e.g. 21 September BAS due for August for monthly lodgers).

October 2025

• 28 October — Q1 BAS due (July–Sept); Super guarantee Q1 due (July–Sept).
• 31 October — Last day for self-prepared individual tax returns for 2024–25.

January 2026

• 28 January — Super guarantee Q2 due (Oct–Dec).

February 2026

• 28 February — Q2 BAS due.

April 2026

• 28 April — Q3 BAS due; Super Q3 due (Jan–Mar).

May 2026

• 15 May — Company and trust income tax returns due if using a registered tax agent (varies by client).
• 21 May — Lodge/pay April BAS; Fringe Benefits Tax (FBT) Return due (paper/electronic).

June 2026 — Year-end focus

• 21 June — Lodge/pay May BAS (monthly lodgers).
• 30 June — End of the financial year — last day to make deductible actions for FY26 (e.g. super contributions must be received by this date; stocktake; asset purchases; trust resolutions; prepayments).

What to prepare ahead of June 30 (year-end)

Business owners & companies

• Wrap up books and close accounts by 30 June
  Ensure all revenue and expenses are recorded in the correct year to accurately determine tax outcomes.
• Super guarantee compliance
  Superannuation contributions for employees must be received by the fund by 30 June to be deductible in FY26.
• Trust distribution resolutions
  For discretionary trusts, resolutions allocating income for FY26 must be made before 30 June.
• Asset purchases and instant asset write-offs
  Consider timing of capital purchases and small business instant write-offs to maximise deductions.
• Payroll and STP finalisation
  Finalise wage reconciliations and confirm correct reporting ahead of year’s end.

Sole proprietors & partnerships

• Confirm all business income and deductions are appropriately captured.
• Review debtors and write off bad debts before year-end if appropriate.
• Prepay eligible expenses to bring forward deductions.

Individuals

• Superannuation planning — consider topping up concessional and non-concessional contributions (subject to caps).
• Review investment property expenses and depreciation reports.
• Working-from-home logbooks and other deduction evidence for personal tax return.

SMSF trustees

• Review investment strategy and performance.
• Ensure compliance documentation is up to date.

Topics to discuss with Indigo Financial now

• Your year-to-date tax position and projections to 30 June.
• Opportunities to maximise deductions or defer assessable income where appropriate.
• Superannuation contribution strategies and caps.
• Trust distribution planning and resolution documentation.
• Division 7A loan compliance (company loans to associates).
• Franking credit and dividend planning for companies.
• What lodgment obligations apply to your entity structure and when.
• Property advisory for investment opportunities and wealth creation.

Contact Indigo Financial on (08) 8212 8585 if you need help with any of your accounting, taxation and business development needs.

Note: The material and contents provided in this publication are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained.