Get sorted for end of financial year

Get your business books in order before the financial year ends and make tax time less taxing.

End of financial year explained

Australia’s financial year ends on 30 June. Get your finances in order before closing your books for the year.

The due date for most businesses is 31 October. If you have a tax agent, they’ll let you know when to lodge.

You’ll need to submit your finalised STP report by 14 July and lodge your Q4 BAS by 28 July.

Declare how much profit your business earned and any business expenses you can claim as a deduction.

Under Australian tax law, you must keep records of all business transactions for five years.

See all the key dates and deadlines for the financial year at a glance with this handy tax year calendar.

Find resources to help with end of financial year to make the process as straightforward as possible.

Whether it's your first EOFY or your tenth, it pays to be organised. Use our tools to meet key dates and milestones.

: Keep on top of your reporting so your books are ready for the end of the financial year. Use our handy guide to know what tasks to complete at tax time.
Read our top tips
: One of your tasks when the financial year ends is to finalise your STP report so it’s ready to submit by 14 July.
See how to finalise STP data in Xero
: Reconcile your payroll to check your reporting is correct. Run both the Payroll Activity Summary report and the General Ledger report in Xero and ensure the amounts in the relevant accounts match.
See how to review payroll transactions in Xero

Xero has all the features you need to manage the end of the financial year effortlessly.

Send online invoices as soon as the job is done. Set automatic reminders to spend less time chasing payments.

Keep track of your cash flow with daily bank reconciliation. Save time and stay current on your business.

Automate tasks like entering bills and receipts. Take a photo of receipts or scan bills into Xero via Hubdoc.

Access all Xero features free for 30 days to help you conquer tax time.

Learn the basics of EOFY, from what to ask your accountant to what to do before lodging a return.

Use the checklist to help you create an efficient and timely EOFY process from start to finish.

Find out what you can do to better prepare your business for the financial year ahead.