Most small business owners treat 30 June like a deadline.
It's not. It's a destination. And by the time you arrive, most of the decisions that could have changed your tax outcome are already locked in.
That's the part nobody tells you.
The Gap Between Knowing and Doing
The calls we get in late June are different from the calls we get in March.
In March, there's time.
We can look at your profit-to-date, estimate where you're tracking, and make real decisions: super contributions, prepaying expenses, asset purchases, structuring a distribution.
In late June, we're often just reporting the news.
That's not criticism. Most business owners are busy running their business. The problem is that most accountants aren't making the call in March either.
What the Tax Window Actually Looks Like
The earlier you start, the more options you have.
April–May: Maximum flexibility
Pre-pay deductible expenses before 30 June
Make personal super contributions (up to your concessional cap)
Review asset purchases: the instant asset write-off thresholds change regularly
Check your business structure and profit distribution options
Review loan balances and Division 7A positions
June: Limited but still possible
Confirm super payments are made and cleared by 30 June (not just sent)
Review debtors: writing off bad debts before year-end is deductible
Confirm pre-paid expenses are correctly recorded
Check your income: if a large payment can be deferred to July, that's worth the conversation
After 30 June: The window is closed
Decisions made after 30 June apply to the next financial year. Distributions, contributions, and structural changes can't be back-dated. You're working with what you've got.
The Super Contribution Question Everyone Asks Too Late
One of the most common mid-year conversations we have is about superannuation. If you're a business owner, your concessional super contributions cap is $30,000 for the 2024–25 financial year.
If you haven't maximised it (and you have the cash) contributing before 30 June reduces your taxable income dollar for dollar.
The catch: the contribution has to be received by the fund before 30 June. Not just sent. Received.
That means you need to act by mid-June at the latest to be safe.
We also see people miss out because they assume they've contributed more than they have. It's worth checking your super balance and your employer contributions year-to-date before making any decisions.
What Most Accountants Don't Tell You
We hear a version of the same story every year.
A new client comes in after filing their return elsewhere. They got a tax bill they weren't expecting. They're frustrated. They didn't know they could have done anything about it.
Most of the time, they could have. Not all of it. Some tax is unavoidable. But often, a mid-year conversation would have changed the number.
The difference isn't clever strategies or complicated structures. It's a phone call in May.
We schedule work in advance. We have mid-year check-ins with clients who want them. And we tell people what's coming before it arrives. Not after.
If you haven't had that conversation with your accountant yet, it might be time to ask for it.
Three Things Worth Doing This Week
Call your accountant and ask where you're tracking. If you don't have a mid-year review scheduled, request one. Ask what your estimated taxable income looks like for this year.
Check your super. Log in to your super fund and confirm what's been paid. If you're self-employed or a director, check whether you've made any personal contributions this year and what's still available under your cap.
List your upcoming expenses. If you have business expenses you were going to pay in July, consider whether paying them in June makes sense. A deduction this year is better than a deduction next year.
If you'd like to talk through your position before 30 June, give us a call.