When is End of Financial Year? Essential Dates & Tips for 2026
Updated March 2026.
If you operate a business in Australia, EOFY is a crucial period for organising financial records, reviewing business income, and staying compliant with Australian tax law. The end of financial year 2026 isn’t just about lodging an income tax return. It’s your opportunity to assess taxable income, review eligible tax deductions, evaluate cash flow, and stay on top of goods and services tax (GST), super contributions, fringe benefits tax, and other reporting requirements.
In this guide, we cover the EOFY date for 2026, what the end of financial year means in Australia, key financial dates, and practical end of financial year tips to make tax time less stressful.
When is End of Financial Year 2026?
The end of financial year 2026 in Australia is 30 June 2026.
The Australian financial year runs from 1 July 2025 to 30 June 2026. This period forms the basis for accounting purposes, tax reporting, financial statements, and compliance with the Australian Taxation Office (ATO).
Understanding when the financial year ends is essential for managing taxable income, preparing income tax returns, and meeting EOFY deadlines. EOFY is when you finalise your books, review profit and loss statements, confirm balance sheets, and report income and deductible expenses.
Your obligations and lodgement dates can vary depending on your business structure, so knowing the EOFY date for 2026 and how to prepare helps you stay compliant, avoid penalties, and plan effectively for the year ahead.
If you lodge late, the Australian Taxation Office may apply penalties and interest on unpaid amounts. The penalty depends on how overdue your lodgement is and the size of the entity.
The ATO can issue Failure to Lodge (FTL) penalties and charge interest on unpaid tax liabilities. These costs can build up quickly if left unaddressed.If you realise you’ve missed a due date, act promptly. Lodge your return as soon as possible to reduce additional penalties. If you cannot pay in full, you may be able to arrange a payment plan with the ATO.
For most individuals, the due date for self-lodging a 2025–2026 income tax return is 31 October 2026.
If you lodge through a registered tax agent, extensions may apply. To access extended deadlines, you must engage your agent before 31 October 2026. In many cases, this can extend lodgement to as late as 15 May 2027, depending on your circumstances and compliance history.Your tax agent must be registered with the Australian Taxation Office.
When to Lodge Tax Returns for Different Business Structures
The way your business is structured significantly affects your tax obligations, eligible deductions, and reporting requirements. The main business structures in Australia include:
Tax return due date: 31 October 2026 (for the 2025–2026 financial year)
Extended due date with a tax agent: Generally up to 15 May 2027 (exact date confirmed by your agent) Learn more about Sole Trader Tax Deductions for EOFY.
Partnership return due date: 31 October 2026
Extended due datewith a tax agent: May 2027 (exact date varies)
For companies with a 30 June balance date:
Company tax return due date: 28 February 2027
Extended due date with a tax agent: 15 May 2027
Earlier dates may apply in certain circumstances.
Trust tax return due date: 31 October 2026
Extended due date with a tax agent: May 2027 (exact date varies)
These are the standard due dates for the 2026 financial year in Australia. Mark these critical dates in your calendar to maintain tax compliance and avoid penalties.Consulting a registered tax agent can help ensure you understand your obligations under Australian tax law.
Essential Financial Reporting Deadlines
For entities operating in Australia, being aware of key financial dates throughout the financial year allows for better planning and avoids last-minute pressure. Accurately reporting taxable income and eligible deductions is essential for income tax and GST compliance.
The important dates to remember for the 2025–2026 financial year include:
Most employers must complete STP finalisation by 14 July 2026 to confirm employees’ income statements are tax ready.
- Quarter 4 (April – June 2026): 28 July 2026
- Quarter 1 (July – September 2026): 28 October 2026
- Quarter 2 (October – December 2026): 28 February 2027
- Quarter 3 (January – March 2027): 28 April 2027
These business activity statements cover goods and services tax, PAYG withholding, and other tax reporting obligations.
You can learn more about BAS lodgement dates in our handy guide.
For entities reporting monthly, lodgements are typically due on the 21st day of the following month. For example, July 2026 reporting is due on 21 August 2026.
- Taxable Payments Annual Report (TPAR): 28 August 2026
- Fringe Benefits Tax (FBT) return (if applicable): 21 May 2026
- STP Finalisation Declaration: 14 July 2026
Always confirm dates via the ATO website or your tax agent, as earlier dates may apply.
How to Prepare for EOFY: 3 Essential Approaches
Now that you know when the end of financial year 2026 falls, the next step is understanding how to prepare properly.
Comprehensive Financial Review
Conduct a complete review of your financial position before 30 June 2026. This includes:
- Reconciling all bank statements
- Reviewing income statements
- Confirming profit and loss statements
- Checking balance sheets
- Verifying super contributions have cleared your super fund
Identify discrepancies early to allow time for correction before lodgement deadlines.
For help getting organised refer to our End of Financial Year Checklist.
Strategic Tax Planning
Planning ahead for tax time involves identifying eligible tax deductions, managing business expenses, and ensuring proper documentation supports all claims.
Work related expenses, subscriptions, equipment purchases, and other allowable deductions can reduce tax liability when properly recorded.
Understanding current tax laws and applying a proactive approach before 30 June helps strengthen your financial strategy for the year ahead.
You might also find our guide on Claiming Work-Related Travel Expenses on Tax useful.
Professional Assistance
Many business owners choose to consult a registered tax agent or accountant to manage EOFY processes.
These professionals can:
- Prepare tax returns accurately
- Ensure compliance with Australian tax law
- Confirm all legitimate deductions are claimed
- Provide personalised advice aligned to your business goals
Be cautious of tax scams and always verify registration with the Australian Taxation Office.
Why It’s Worth Getting a Tax Agent
Working with a registered tax agent doesn’t just reduce pressure, it may also extend your EOFY deadlines to May 2027.
Their fees are generally tax-deductible, and their expertise can help minimise tax liability while ensuring compliance with evolving tax laws.
A good tax agent understands GST, fringe benefits tax, land tax, and other obligations, helping you avoid costly mistakes and strengthen your financial position.
Four Tips for Managing EOFY Preparation
Avoid the last-minute scramble by considering the following:
- Create a Financial Calendar
Mark all critical dates, BAS, STP finalisation, FBT, and income tax deadlines, in advance. Set reminders several weeks before each due date.
- Maintain Accurate Records
Accurate record keeping throughout the financial year makes EOFY significantly easier.
Use accounting software to track income, services tax, and business costs. Regularly review financial statements to ensure they remain audit-ready.
Stay informed about changes in tax laws via the ATO website.
- Regular Financial Reviews
Don’t wait until June. Conduct quarterly reviews of your financial position to monitor taxable profit, cash flow, and compliance.
Organise financial documents and loss statements so you are prepared before EOFY deadlines arrive.
- Invest in Professional Support
If EOFY preparation feels overwhelming, Shoebox can assist with bookkeeping, financial reporting, and tax preparation support. We help ensure accurate records, compliance, and readiness for lodgement.
Stay on Top of Your Financial Year Planning
Financial management doesn’t stop at EOFY either. It’s a year-round job, and having someone in your corner gives you the confidence to make smarter decisions and plan ahead.
If you’re ready to make EOFY stress-free, explore our bookkeeping or accounting and tax services, or get in touch with your local Shoebox expert today.
