With 30 June fast approaching, it’s time for businesses and taxpayers to prepare for the end-of-financial-year.
Overall for 2025 – there are few new tax planning opportunities. Although the Australian Labor Party’s election win has brought some certainty around the direction of tax policy, it remains to be seen which election promises will ultimately be translated into law.
Key proposals—including a tax on superannuation balances above $3 million, an extension of the $20,000 instant asset write-off, and a standard $1,000 deduction—are still making their way through Parliament.
That said, there are still several existing areas that require attention. The ATO has been allocated additional compliance resources this year and is taking a more proactive approach, particularly in areas like Fringe Benefits Tax (FBT) that may not have been closely scrutinised in the past.
To support you, our experts at Bentleys have prepared this one-stop resource for 2025 tax planning. It includes a comprehensive EOFY Tax Planning Guide that outlines key issues and recommended actions to help you and your business prepare for year-end with confidence.
We have also prepared the below list of the Top 10 EOFY Issues to help you to navigate your year-end planning.
Your Bentleys advisor can help you step through the different opportunities, how they should be implemented in your group and the future tax cashflow consequences from adopting the strategies.
Get in touch with us today to see how Bentleys can help you and your business get where you want to be.
Top 10 EOFY Issues for 2025 (Download the checklist via the link below)
| 1. $20,000 instant asset write off for small business | You should plan your future capex to make sure assets are acquired within current timeframes. | |
| 2. Tax cashflow planning | Forecast forward for future tax payments and reduce PAYG instalments where profits are declining. | |
| 3. Trust distributions | Consider future receipt of funds by beneficiaries and whether trust distributions are in alignment. | 1.4.4 | Page 15 |
| 4. Personal service income | Review personal service income distributions within group in line with ATO guidance and ‘green zone’ examples. | |
| 5. Research & Development | Ensure R&D registrations are made before due dates and claims are properly documented. | 1.4.3 | Page 14 |
| 6. Private company loan compliance | Make sure private company loans are identified, and minimum repayments are made. | |
| 7. Division 296 tax preparation | Review the impact on your super balances exceeding $3 million. | |
| 8. Fringe Benefits Tax compliance | Undertake an FBT review of your group to ensure you are compliant with current FBT rules. | |
| 9. Debt deductions | Where you own overseas entities or assets and have group interest expenses exceeding $2 million you must consider the impact of these rules. | |
| 10. Rental properties | Ensure key issues for rent, repairs and interest deductions are managed and documented for rental property claims. | |
Disclaimer: This information is general in nature and should not be relied on as advice. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs and seek professional advice before making any decisions based on this information.
