At Business Benchmark Group, we work with business owners who are serious about finishing the year well and starting the next one with a clear plan.
Most business owners treat EOFY as a tax conversation. The ones who grow consistently treat it as a strategic checkpoint.
Here are the actions that matter most before 30 June 2026.
1. Meet Your Accountant Now, Not in July
By the time July arrives, the opportunity to influence your outcome has passed.
Schedule a conversation before 30 June to review your expected profit, understand your tax position, explore legitimate planning opportunities, and confirm your business structure is still fit for purpose.
A proactive conversation now can save thousands and eliminate unwelcome surprises.
2. Use the $20,000 Instant Asset Write-Off Before It Expires
The Federal Government has extended the $20,000 Instant Asset Write-Off through to 30 June 2026.
If your business turns over less than $10 million, you can immediately deduct the full cost of eligible assets under $20,000. Because the write-off applies per asset, it can be claimed across multiple purchases.
Tools, equipment, technology, vehicles — if you have been putting off a purchase, this is the time to act. Talk to your accountant about what qualifies and get it structured before the deadline.
- Deduct the full asset cost upfront, reducing your tax bill this financial year
- Get your tax savings back faster to reinvest into your business
- Claim it across several purchases — the limit applies per asset, not in total
- Review your aged debtors and chase outstanding invoices now, not in August
- Identify which clients consistently pay late and decide whether those terms still work for you
- Check your progress claim schedule and confirm nothing has been left on the table
- Forecast your cash position for the next 90 days, including tax obligations and any planned purchases
- Review your labour rates, material margins, and service pricing against what your costs actually are today
- Model your target job margins for FY27 and stress-test them against the new wage and super rates
- Set your revenue, profit, and cash targets for the year ahead
- Review every cost line in your budget and allocate ownership of each to a specific person in your business
3. Close Your Cash Gap Before the New Year
Profit and cash are not the same thing — and the gap between them can be significant in project-based businesses.
The cash gap is the lag between when money goes out (wages, materials, subcontractors) and when it comes back in (invoices paid, progress claims settled). The faster you grow, the wider that gap tends to get.
Before 30 June:
Most businesses that run into cash trouble are not unprofitable. They are undisciplined about the timing of money in versus money out.
If you do not have a clear view of your cash position heading into the new year, that is the first thing to fix.
4. Audit Your Costs, Reprice for FY27, and Set Your Budget
Two things are increasing from 1 July that every business owner needs to account for.
The Fair Work Commission has announced a 4.75% increase to the National Minimum Wage. At the same time, the Superannuation Guarantee rate rises from 11.5% to 12%. Together, these represent a material increase in your labour costs before you factor in any other movement in materials or overheads.
Before 30 June:
If your pricing does not account for these increases, your margins will absorb them by default. And if your budget is in a spreadsheet with no one's name on it, it won't be managed.
What Great Businesses Do Year-Round
The actions above are time-sensitive. But there is a broader set of disciplines that the businesses we work with practise consistently — not just at EOFY.
These include knowing which work is genuinely profitable and pursuing more of it. Keeping WIP clean and job costing accurate. Reviewing team structure as the business grows. Investing in systems that reduce founder dependency. And understanding what the business is worth — not just what it turns over.
None of these are EOFY tasks. They are the ongoing habits that separate businesses that scale from businesses that stay stuck.
This is the work we do with clients at BBG throughout the year — not just in June.
Are you running your business - or building one that can run without you?
If you would like to talk through where your business stands heading into FY27, we would welcome the conversation.
This article is intended for general informational purposes only and does not constitute financial, legal, or taxation advice. Every business situation is different. We recommend speaking with your accountant or legal professional before making decisions based on the information above.