Tax Time is Coming: 3 Smart Ways to Reduce Your Tax Bill Before June 30

It’s that time of year again. You’re flat out running jobs, managing the team, and keeping the business moving—then suddenly, tax time hits. And if you haven’t done any prep, you could be handing over more money to the ATO than you need to.

The good news is, with a few smart moves now, you can legally reduce your tax bill, keep more cash in your business, and avoid the EOFY panic.

Here are three simple but powerful tax strategies to get ahead before June 30.

1. Prepay Expenses & Lower Your Taxable Income

One of the easiest ways to reduce your taxable income is to bring forward any business expenses you were going to pay anyway.

What does this mean in practice?

• Got insurance, subscriptions, or software renewals coming up? Pay them now rather than after June 30.
  
• Need to stock up on materials, tools, or equipment? If you buy them this financial year, they can count as deductions now.
  
• Have marketing, training, or business coaching expenses? Lock them in before EOFY and claim them this year.
  

By strategically paying now instead of later, you can reduce your taxable income and potentially pay less tax this financial year.

2. Instant Asset Write-Off: Claim Big Purchases Before the Rules Change

Thinking about upgrading your ute, machinery, or business equipment? You might be able to claim an instant asset write-off—but don’t wait too long. The rules around what’s eligible change frequently, and if you leave it too late, you could miss out.

How does it work?

If your business qualifies, you can immediately deduct the cost of eligible assets (under $20,000) (rather than depreciating them over years). This can significantly reduce your taxable income—and free up cash flow for the rest of the year.

Tip: If you’re unsure whether an asset qualifies, talk to your accountant before you buy. It’s better to check than to assume.

3. Super Contributions: A Tax Deduction That Pays You Back

Most business owners push super to the bottom of their priority list—but making contributions before June 30 can save tax now while building wealth for the future.

Why should you care?

• Contributions you make to your own super fund may be tax-deductible.
  
• Super payments for employees must be processed before June 30 to be deductible this year (so don’t leave it until the last payroll run!).
  
• It’s one of the few tax strategies that benefits both your present and future self.
  

If you want to keep more of your money instead of handing it to the ATO, super should be part of your tax planning strategy.

Don’t Wait Until It’s Too Late

The best tax savings don’t happen in June—they happen in February and March, when you still have time to plan.

Want to make sure you’re not overpaying tax this year?

Book a quick tax planning call with us today. 

No stress, no jargon—just straightforward advice to help you pay less tax and keep more cash in your business.

Trinity Advisory – Your Partner in Business