Get your business ready for EOFY

Financial year-end can be a stressful time for small businesses, but it doesn’t have to be. Here’s what you need to get through it, and some tips on how to minimise the drama.

What is the Australian financial year?

The Australian financial year (also the Australian tax year) runs from 1 July to 30 June. At midnight on 30 June, the financial year ends, your business books are closed, and you report your financial situation to the Australian Tax Office (ATO). They use this information to figure out how much tax you owe.

Getting Single Touch Payroll compliant

Single Touch Payroll is changing the way businesses in Australia report their salaries, wages, PAYG withholdings and superannuation to the Australian Tax Office this financial year. Make sure you're compliant this EOFY. 

Single touch payroll compliance

EOFY payroll

If your business has employees, it's important to understand the tax obligations that brings. Sort your payroll easily this end of financial year with our helpful resources. 

Single touch payroll compliance

Sorting your EOFY

Check out our handy guide on things you'll need to do this financial year and some of our top support questions that come in from other small businesses like you this time of year. 

Single touch payroll compliance

FAQs

General accounting
Payroll

From stressful and scary to simple and streamlined

We speak to the co-founder of Twosix Wellness to hear how she and her business partner Emma Udorovic practice what they preach and transformed a once annual source of stress into something oh-so simple.

ARTICLE 
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end of financial year payroll australia

Using Xero for your business

Now that you’re on Xero, let us show you where to start! With these bite-sized videos we’ll cover the basics of using Xero for your small business, looking at all the features you’ll use regularly to see how they make managing small business finances easier than ever.

Check it out

Not yet on Xero? Sign up now for a 30-day free trial and make this EOFY beautiful.

Free trial