Pre-EOFY 2026: Essential Tax Strategies to Protect Your Bottom Line
As the sun begins to set on the 2025-26 financial year, smart business owners and individual taxpayers are shifting their focus to the most critical period of the year: Pre-EOFY (End of Financial Year) tax planning. In 2026, the Australian Taxation Office (ATO) has signaled increased scrutiny on work-related expenses and small business concessions. Taking action now—well before June 30—can be the difference between a significant tax liability and a substantial refund. Proactive tax planning is a legal and strategic necessity for Australian businesses in 2026. Pre-EOFY 2026: Essential Tax Strategies to Protect Your Bottom Line Tax planning is not about "tax evasion"; it is about using the legal frameworks provided by the Income Tax Assessment Act 1997 to ensure you do not pay a cent more than required. For the 2025-26 period, several key legislative updates are in play that you must understand. 1. The $20,000 Instant Asset Write-Off Extension One of the most im...