EOFY Checklist Generator

EOFY Checklist for Australian SMBs: Every Deadline, Every Obligation

The Australian financial year runs from 1 July to 30 June. The eight weeks either side of 30 June are the most demanding period in any finance team's calendar — tax planning, payroll finalisation, super obligations, BAS lodgement, and financial reporting all converge at once. Missing key deadlines does not just create administrative headaches: late superannuation attracts the Superannuation Guarantee Charge (SGC), which is not tax-deductible; late STP finalisation prevents employees from lodging their tax returns; and late trust distribution resolutions can have significant tax consequences that cannot be unwound after the fact.

For most Australian SMBs, the EOFY process has two distinct phases. The pre-30 June phase is about tax planning and making timing decisions: reviewing deductible expenses that can be brought forward, making additional superannuation contributions, reviewing asset purchases and instant asset write-off eligibility (the threshold and rules change regularly — confirm with your accountant), and ensuring trust distribution minutes are signed before midnight on 30 June. The post-30 June phase is about compliance lodgements and closing the books: STP finalisation, Q4 super payment, BAS, and preparing financial statements.

Payroll reconciliation is one of the most common EOFY pain points. The total PAYG withholding reported in your STP submissions must reconcile to the amounts on your BAS lodgements for the year. Similarly, superannuation reported through STP must match actual contributions paid to funds. Any discrepancies must be investigated and corrected before the STP finalisation declaration is lodged — once submitted, errors require an amendment report to fix.

How to use this EOFY checklist generator

1. Select your business type and the sections relevant to your obligations (payroll, GST, trust, company tax, etc.).
2. Review the pre-populated tasks across income, expenses, payroll, GST, assets, bank reconciliation, tax planning, and compliance.
3. Assign each task to a team member, set a due date, and mark items as complete as you work through the list.
4. Download the checklist as a PDF to share with your accountant, use as a sign-off document, or retain as working papers for the year.

What are the key EOFY deadlines for Australian businesses?

The critical dates are: 30 June (financial year end — trust minutes, timing decisions); 14 July (STP finalisation declaration due — employees can then access income statements via myGov); 28 July (Q4 superannuation guarantee contributions must be received by the fund — not just paid); and 28 October (standard lodgement deadline for company income tax returns, though tax agent deadlines may differ). BAS due dates depend on your reporting frequency — monthly reporters have a 21-day lodgement window; quarterly reporters are typically due 28 October for the June quarter.

What happens if superannuation is paid late?

If super guarantee contributions are not received by the employee's fund by 28 July, you have missed the Q4 deadline and are liable for the Superannuation Guarantee Charge (SGC). The SGC is calculated on total salary and wages (not ordinary time earnings, which is a broader base), includes a nominal interest component, and an administration fee. Critically, the SGC is not tax-deductible — meaning you pay it from after-tax dollars — and you must lodge an SGC statement with the ATO. Penalties for non-lodgement are significant.

Why is AP reconciliation critical before 30 June?

Every invoice that relates to the financial year ending 30 June must be in your system and coded to the correct period before the books close. Missing invoices mean understated expenses — and therefore overstated profit and a higher tax liability. Invoices processed after year-end that relate to pre-30 June expenses may be deductible in the correct year, but only if they are properly accrued at balance date. For industrial businesses processing hundreds of invoices per month, an automated AP process ensures nothing is missed and every item is correctly dated and coded.

What is the instant asset write-off and who qualifies?

The instant asset write-off allows eligible businesses to immediately deduct the cost of qualifying assets, rather than depreciating them over several years. The threshold and eligibility criteria have changed frequently — always confirm the current rules with your accountant before making an asset purchase specifically to claim the deduction. For the asset to be deductible in the current financial year, it must be purchased and installed ready for use by 30 June. An order placed before 30 June but delivered after does not qualify.