If you’re reading this and it’s already late June, some of your best options have already closed. That’s the reality of year-end tax planning — the most powerful strategies require time to implement, and the 30 June deadline is absolute. This checklist is designed to help Australian small business owners take action well before year-end to capture every available advantage for the 2026–27 financial year.
Why June Is Already Too Late for Some Actions
- Trust distributions: Must be resolved before midnight 30 June — cannot be backdated
- Superannuation contributions: Must be received by the fund by 30 June to be deductible this year
- Asset purchases: Must be installed and ready for use by 30 June to claim this year’s write-off
- Pre-payments: Must be paid (not just invoiced) by 30 June
Start your planning conversations with Mina in March or April — not June. Learn more about our year-round tax planning approach here.
Action 1: Review and Resolve Trust Distributions
The trustee must pass a resolution before 30 June documenting how the trust’s income is distributed. No resolution = all income taxed at 47% in the trustee’s hands.
The resolution process should include reviewing each beneficiary’s income and marginal rates, estimating the trust’s net income, deciding distribution amounts (including any bucket company amounts), and preparing and executing the formal trustee resolution — dated and signed before 30 June.
Action 2: Maximise Superannuation Contributions
For 2026–27, the concessional contributions cap is $30,000. Personal contributions must be received by the super fund by 30 June. Allow at least 3–5 business days processing time. If using the Small Business Superannuation Clearing House (SBSCH), contributions must be made by 18 June 2027.
Check your carry-forward amounts via myGov — if your balance is under $500,000, you may have significantly more than $30,000 available. See our payday super compliance guide here.
Action 3: Asset Purchases and Instant Write-Off
For eligible small business entities (turnover under $10 million), depreciating assets can be immediately deducted. The asset must be installed and ready for use by 30 June. Ordering equipment that won’t arrive until July doesn’t count. Read our 2026 instant asset write-off guide here.
Action 4: Pre-Pay Deductible Expenses
Small business entities can deduct prepaid expenses where the service is provided within 12 months of payment. Common qualifying prepayments:
- Business insurance premiums
- Interest on investment loans (where the lender allows prepayment)
- Software subscriptions and licenses
- Professional association memberships
Action 5: Review Capital Gains and Losses
If you have capital gains this year, review whether you have any assets at a loss that you could sell before 30 June to crystallise the loss and offset the gain. Capital losses can only offset capital gains — excess losses carry forward indefinitely.
Action 6: Review Division 7A Loan Accounts
If you have a company and you’ve borrowed money from it, the minimum yearly repayment must be made before 30 June. Failing to make the repayment results in the shortfall being treated as an unfranked dividend. Read our complete Division 7A guide here.
How Pinnacle Approaches This With Small Business Clients
At Pinnacle, we proactively reach out to every small business client in March–May to review their year-to-date position and identify year-end opportunities. We don’t wait for you to call us — we contact you.
For trust clients, we prepare the trustee resolution each year — no client of Pinnacle has ever missed the 30 June deadline. If you’re not receiving this level of proactive service from your accountant, contact Pinnacle today.
Frequently Asked Questions
Can I do tax planning after 30 June?
Some actions remain available — such as personal concessional super contributions with a notice of intent — but the key actions (trust distributions, super payments, asset purchases, prepayments) are all date-locked. After 30 June, your options for the year just ended are limited.
Is there anything I can do if I missed the trust distribution deadline?
Unfortunately, no — not for the current year. All trust income is assessed against the trustee at 47%. This is one of the most severe and unavoidable consequences of missed trust compliance. Going forward, set calendar reminders in May each year.
When should I buy assets to claim this year’s write-off?
The asset must be installed and ready for use by 30 June. As a practical matter, aim to complete asset purchases by mid-June to allow time for delivery and installation.
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