With 30 June 2026 approaching, now is a practical time to review expenses, organise records and speak with an accountant about eligible claims before the financial year ends.
From web hosting, domain names and business email to larger equipment purchases, EOFY can be a useful time to get your business set up for the year ahead while potentially reducing your taxable income.
This guide covers general tax planning considerations for Australian business owners. It is not tax advisory advice, and you should always speak with your accountant, registered tax agent or financial advisor about what applies to your situation.
1. Review the Instant Asset Write-Off Tax Incentive Before 30 June
The instant asset write-off is a tax incentive that allows eligible small business entities to immediately deduct the business portion of eligible depreciating assets that cost less than the relevant threshold.
For the 2025–26 financial year, the $20,000 threshold applies to eligible small business entities with an aggregated annual turnover of less than $10 million. It applies on a per-asset basis, which means multiple eligible assets may be claimed if each one costs less than $20,000.
To claim the deduction for the 2025–26 financial year, the asset generally needs to be first used or installed ready for use by 30 June 2026. Simply ordering or paying for an asset before 30 June may not be enough if it is not ready for use until the next financial year.
The 2026–27 Federal Budget has also announced that the $20,000 instant asset write-off will be made permanent for eligible small businesses from 1 July 2026. That means 30 June 2026 may not carry the same “last chance” urgency as previous years, but EOFY is still a good time to review planned purchases, cash flow and business needs with your accountant.
2. Plan New Business Expense Deductions Carefully
Some businesses may be able to claim certain prepaid expenses in the current financial year, provided they meet the relevant tax rules.
This can include costs such as:
- Business insurance
- Software subscriptions
- Advertising and marketing
- Accounting or professional support
- Digital tools used to operate your business
The benefit is simple: if your business was already planning to pay for these items soon, bringing the expense forward before 30 June may help reduce your taxable income for the current financial year.
However, this should only be done when it makes commercial sense. Most costs you incur should have a clear purpose in running your business, rather than being made purely for tax reduction.
3. Digital Services You Can Claim for Your Business
Many small businesses now rely on digital tools every day, but these costs are sometimes overlooked at tax time.
If they are used for business purposes, expenses that may be deductible can include:
- Domain name registrations and renewals
- Web hosting
- Business email hosting
- SSL certificates
- Website builder subscriptions
- Software and app subscriptions
- Online advertising and marketing tools
- Professional website development or maintenance costs
If you use VentraIP services to run or promote your business online, keep your invoices and ask your accountant what you can claim.
These expenses may seem small individually, but they can add up across the year, especially if you manage multiple domain names, email accounts, hosting services or online tools.
4. Keep Records for Every Business Deduction
Good record keeping makes EOFY much easier and helps support your business deductions.
Before 30 June, take some time to:
- Download invoices and receipts for business purchases
- Review your domain name, hosting and email renewals
- Separate personal and business expenses
- Check recurring subscriptions you may have forgotten about
- Confirm your business details are correct on invoices
- Make sure expenses are recorded in your accounting software
For VentraIP customers, this may include downloading invoices from VIPcontrol, checking upcoming renewals and reviewing which online services are used for business purposes.
The more organised your records are, the easier it is for your accountant to identify eligible tax deductions, prepare your tax return accurately and help if you ever need to respond to an audit.
5. Review Your Business Structure
EOFY can also be a good time to review whether your current business structure still suits your goals.
A sole trader, partnership, company and trust can each have different obligations, asset protection considerations and administrative requirements. As a business grows, the structure that worked at the start may not always remain the best fit.
This is especially relevant for medium-sized businesses, or for owners considering a move into a corporate structure. Speak with a qualified accountant, tax professional or business advisory specialist before making any changes.
6. Consider Income Timing and Possible Tax Reduction Strategies
The timing of income and expenses can affect which financial year they fall into.
For some businesses, this may involve reviewing when invoices are issued, when payments are received and when expenses are paid. The right approach depends on how your business accounts for income, your cash flow position and your broader tax liabilities.
You may also need to consider whether to write off bad debts, review outstanding invoices, or account for rent and other recurring costs before EOFY. Do this with professional guidance so the approach is appropriate and compliant.
7. Check Tax Credits, Offsets and Small Business Tax Deductions
The ATO provides a range of concessions that may be available to eligible small businesses. Tax credits are more commonly discussed in overseas contexts, so Australian businesses should pay close attention to local offsets, concessions and deduction rules.
Depending on your business, these may include:
- Simplified depreciation rules
- Instant asset write-off rules
- Small business income tax offset for eligible unincorporated businesses
- Immediate deductions for certain start-up costs
Eligibility can depend on your business structure, turnover, asset use and other factors, so it is worth checking with your accountant rather than assuming a concession does or does not apply.
For companies, corporate tax rules can differ from the rules that apply to sole traders, partnerships and trusts, so get advice before making business tax decisions.
8. MYOB Offer: Exclusive Tools to Simplify EOFY Business Admin
EOFY can be stressful, especially when managing receipts, chasing invoices, or tracking expenses. That’s why we’ve partnered with MYOB to offer exclusive access to Solo by MYOB and MYOB Business at significantly reduced rates.
These tools are purpose-built for sole traders, freelancers, and small business owners in Australia, helping simplify admin, manage payments, and streamline accounting. As part of this partnership:
- Solo by MYOB is available to VentraIP customers for just $6 for the first 12 months.
- MYOB Business users receive six months free when they pay for one month (Lite or Pro plan).
These deals can support better financial visibility during tax season, potentially reducing your tax prep time and cost.
Final Thoughts: Host Your Online Essentials in One Place
EOFY is not just about lodging paperwork. It is an opportunity to review expenses, tidy up records, check your online setup and make informed decisions before the financial year ends.
If you are planning to invest in digital tools for your business, this may include domain names, web hosting, business email, SSL certificates, website tools or accounting software. These can help your business operate more professionally while potentially forming part of your eligible claims.
Before making any tax-related decisions, speak with your accountant or registered tax agent so you understand what applies.
