End of financial year is more than a deadline for the books — it’s a window to invest in your business while the timing works in your favour. Here are six moves worth considering before 30 June.
If you were going to buy tools, machinery, vehicles or technology in the next few months anyway, doing it before EOFY can bring the deduction into this financial year. Talk to your accountant about the instant asset write-off thresholds that apply to your business — the rules change, so confirm the current limit before you commit.
You don’t have to drain your bank account to invest at tax time. Equipment and vehicle finance let you acquire the asset now and spread the cost, so your working capital stays free for wages, stock and the quieter winter months. The asset itself usually serves as the security, so your home stays out of it.
July and August are quiet for many businesses. An unsecured business loan or a line of credit set up before EOFY gives you a buffer to cover fixed costs without stress. A revolving facility is handy here — you only pay interest on what you draw.
If you’re carrying expensive short-term debt or maxed-out cards, consolidating into a single, structured facility can lower your repayments and simplify your cash flow. Run the numbers before you switch.
Lenders move faster when your information is tidy. Have your recent bank statements, BAS and a clear picture of turnover ready. It speeds up approval and means you can act quickly if an opportunity appears.
The best EOFY decisions support next year’s growth, not just this year’s tax bill. Map out the equipment, hires or premises you’ll need, and line up the finance early so you’re ready to move.
The bottom line: EOFY rewards businesses that plan ahead. Whether it’s an asset purchase or a cash-flow buffer, getting your finance sorted before 30 June puts you in control.
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