Tax planning strategies before June 30 for Brisbane SMEs
June 30 is more than just the end of the financial year — it’s one of the most significant dates on the calendar for any small or medium-sized business in Australia. For Brisbane SMEs, the weeks leading up to EOFY represent a critical window to review your financial position, reduce your tax liability, and set your business up for a stronger year ahead. Whether you’re a sole trader in Fortitude Valley, a growing retail operation in Chermside, or a professional services firm in the Brisbane CBD, working with experienced accountants in Brisbane before June 30 can mean the difference between paying too much tax and keeping more money working in your business. At Milan Accountants, we specialise in bookkeeping and accounting in Brisbane for SMEs across all industries. In this guide, we’ve compiled the most effective tax planning strategies Brisbane businesses can act on right now — before the financial year closes.
1. Understand Why June 30 Tax Planning Matters for Brisbane SMEs Many Brisbane business owners think of tax as something to deal with in July — after the fact. But reactive tax management is expensive. Proactive planning with a qualified Brisbane accountant before June 30 allows you to:
Legally reduce your taxable income for the current financial year Maximise deductions you’re already entitled to claim Optimise super contributions for both yourself and your employees
Defer income where legally permissible Avoid penalties and ATO scrutiny from last-minute, poorly documented decisions
The team at Milan Accountants — one of Brisbane’s most trusted accounting firms — works with SMEs year-round, but the pre-June 30 period is arguably the most impactful time to take action. A conversation with your accountant now could save thousands before the clock runs out.
2. Review and Maximise Business Deductions One of the most straightforward tax planning strategies for Brisbane SMEs is ensuring all legitimate business deductions are captured before the end of the financial year. Many business owners leave money on the table simply by not keeping track of what they’re entitled to claim.
Common deductions Brisbane SMEs often miss:
Home office expenses (especially relevant post-COVID for Brisbane remote teams) Business-related travel and vehicle use — particularly relevant for trades and field services across greater Brisbane Professional development, training, and industry memberships Software subscriptions — Xero, MYOB, CRM platforms, and project management tools Marketing and advertising costs, including digital campaigns Bank charges, merchant fees, and financial service costs Repairs and maintenance on business assets
If you’re unsure what qualifies as a deduction for your specific industry, speaking with a local Brisbane accountant at Milan Accountants will ensure nothing is missed. Our team understands the nuances of Queensland-based business operations and can identify deductions that are specific to your industry and trading structure.
3. Take Advantage of the Instant Asset Write-Off The instant asset write-off (IAWO) remains one of the most powerful tools available to Australian SMEs. Under the current rules, eligible Brisbane businesses can immediately deduct the cost of qualifying assets rather than depreciating them over time. This means if your business needs:
New equipment or machinery Computer hardware or IT infrastructure Fit-out upgrades to your Brisbane premises Vehicles used for business purposes
…purchasing and installing those assets before June 30 could deliver a full deduction in the current financial year, rather than spreading it over years.
The thresholds and eligibility rules for the IAWO have evolved in recent years, so it’s essential to confirm your position with a qualified accounting firm in Brisbane. The advisors at Milan Accountants can quickly assess whether a planned purchase qualifies, and help you time it correctly to maximise the tax benefit.
4. Review Your Superannuation Strategy Superannuation is one of the most tax-effective structures available to Australian business owners and employees. With June 30 approaching, now is the time to review your super contributions strategy.
For business owners and directors:
Concessional (before-tax) contributions up to the annual cap are taxed at only 15%, significantly lower than most marginal tax rates Consider making personal deductible contributions if you’re a sole trader or in a structure that allows it Ensure contributions are received by the fund before June 30 — not just sent — as processing times can vary
For employers with staff:
Superannuation Guarantee (SG) contributions must be paid on time to be deductible — late payments are not deductible in the year they were due Review whether your payroll processes are correctly calculating SG on all ordinary time earnings Single Touch Payroll (STP) reporting should align with your actual super payments
Brisbane businesses that manage payroll and super in-house often discover discrepancies during EOFY reviews. The bookkeeping and accounting specialists in Brisbane at Milan Accountants offer payroll reconciliation services to ensure your SG obligations are correctly calculated and your deductions are fully maximised.
5. Bring Forward Deductible Expenses If your Brisbane business is expecting higher income in the current financial year compared to next year, it may make sense to bring forward deductible expenses into the current year. This reduces your taxable income now, when the tax benefit is greatest. Expenses you might consider prepaying before June 30 include:
Business insurance premiums (up to 12 months in advance) Rent or lease payments on business premises Subscriptions and annual service agreements Professional memberships and licences
Advertising spend or marketing retainers
The ATO has specific rules about prepaid expenses — particularly for businesses with turnover above the small business entity threshold. Accountants in Brisbane at Milan Accountants can advise whether prepayment makes sense for your specific situation and ensure it’s structured correctly to withstand ATO scrutiny.
6. Write Off Bad Debts Before June 30 If your Brisbane business is carrying invoices that are genuinely uncollectable, writing them off as bad debts before June 30 can reduce your assessable income for the current year. To claim a bad debt deduction, the ATO requires that:
The debt was previously included in your assessable income The debt is genuinely bad — not merely overdue You have made reasonable attempts to collect it A formal decision to write the debt off is documented before June 30
This is an area where proper bookkeeping in Brisbane is essential. Your accounts receivable records must clearly support the write-off. Milan Accountants can review your debtors ledger, identify qualifying bad debts, and ensure the correct documentation is in place before the financial year ends.
7. Review Your Business Structure June 30 is also an ideal time to assess whether your current business structure — sole trader, partnership, trust, or company — is still the most tax-effective option as your Brisbane business evolves. For example:
A sole trader growing rapidly may benefit from incorporating or establishing a trust structure to access lower tax rates and income-splitting opportunities A company may be paying too much in Division 7A implications if director loans haven’t been managed correctly A family trust may need a review of its distribution strategy to ensure it aligns with current ATO guidance
Structure changes typically need to be planned well in advance, but identifying the need before June 30 allows experienced Brisbane accountants like the team at Milan Accountants to begin planning for the new financial year immediately — so your business can operate in the most efficient structure from July 1 onwards.
8. Reconcile Your Books and Get Your BAS in Order
Clean, reconciled books are the foundation of any good tax planning strategy. If your accounts are behind or disorganised, you risk missing deductions, mis-stating income, or facing ATO penalties for inaccurate BAS reporting. Before June 30, Brisbane SMEs should ensure:
Bank accounts are fully reconciled to the most recent statement GST coding is correct across all transactions Payroll records reconcile with ATO reports submitted via Single Touch Payroll Loan accounts and director loan accounts are reconciled and documented Stock is counted and valued correctly if your business holds inventory
Many Brisbane business owners rely on bookkeeping services in Brisbane from Milan Accountants to keep their accounts current year-round, so that EOFY is a smooth, stress-free process rather than a frantic scramble. Our bookkeeping team works directly with your accountant to ensure the numbers align — reducing errors and maximising deductions.
9. Consider a Capital Gains Tax (CGT) Review If your Brisbane business or its directors hold assets that have appreciated in value — including shares, property, or goodwill — a CGT review before June 30 can uncover planning opportunities. Key CGT strategies for Brisbane SMEs include:
Triggering a capital loss before June 30 to offset a capital gain in the same year Assessing eligibility for the small business CGT concessions, which can significantly reduce or eliminate CGT on the sale of business assets Timing the disposal of assets to take advantage of the 50% CGT discount for assets held longer than 12 months
CGT is one of the more complex areas of Australian tax law. The accounting professionals in Brisbane at Milan Accountants have deep experience in helping SMEs navigate CGT obligations and structure transactions in the most tax-effective way.
10. Plan Your Cash Flow for the Tax Payment Even with great tax planning, most Brisbane SMEs will still have a tax bill to pay. Planning for that payment is just as important as minimising it. Before June 30, work with your Brisbane accountant to:
Get an accurate estimate of your expected tax liability Ensure you have sufficient cash flow to meet the payment without disrupting operations Consider whether PAYG instalment amounts should be varied for the coming year
Review whether you’re eligible for ATO payment plans if cash flow is tight
Good accounting in Brisbane isn’t just about compliance — it’s about building a business that’s financially resilient. At Milan Accountants, we work with our Brisbane SME clients not just on tax, but on cash flow forecasting and financial planning so they’re always prepared for what’s ahead.
Why Brisbane SMEs Choose Milan Accountants Milan Accountants is a specialist accounting firm in Brisbane dedicated to helping small and medium businesses thrive. Our team combines deep local knowledge of the Brisbane business environment with expertise across taxation, bookkeeping, payroll, and business advisory. When you work with Milan Accountants, you get:
Proactive tax advice — not just end-of-year number crunching A dedicated Brisbane accountant who understands your industry and goals Integrated bookkeeping and accounting services under one roof Plain-English advice that makes complex tax issues easy to understand Year-round support — not just a face you see once in July
As one of the most trusted accounting firms in Brisbane, we believe that great bookkeeping and accounting is the foundation of every successful Brisbane business. Whether you need help preparing for June 30, cleaning up your books, or planning your structure for the year ahead, our team is ready to help.
Conclusion The window for tax planning before June 30 is short — but the financial benefit can be significant. From maximising deductions and superannuation contributions to writing off bad debts and reviewing your business structure, there are multiple strategies Brisbane SMEs can act on right now. The key is to act early and work with experienced accountants in Brisbane who understand both the letter of the tax law and the realities of running a business in Queensland. Milan Accountants has helped hundreds of Brisbane SMEs reduce their tax burden and build stronger, more profitable businesses — and we’re ready to help yours too. Reach out to Milan Accountants — your local experts in bookkeeping and accounting in Brisbane — and let’s make this your best financial year yet.
