End of financial year explained
The financial year runs from 1 April to 31 March. Get your finances in order so an accurate tax return can be prepared.
When your income tax return is due
The due date for most businesses is 7 July unless you have an extension or use an advisor with an extension.
More key financial year dates
Pay your EOFY income tax by 7 February in the next year, or 7 April if you or your advisor have an extension.
Complete your income tax return
Declare how much profit your business earned and any business expenses you can claim as a deduction.
Retain business records
Inland Revenue requires businesses to keep records of all business transactions for at least seven years.
Upcoming webinars about Xero & EOFY
If you're new to business or would like to learn basic financial principles, we'll cover accounting terms like chart of accounts, bank reconciliation and more, so you can learn areas fundamental to running your business. 14 February, 2–2:30pm.Register now
Tidy up your books so you're in control and ready for a smooth end of financial year. As a small business, learn some tips and tricks to help review your Xero organisation so your accounts and tax returns can be finalised. 21 February, 11–11:30am.Register now
Learn different ways to analyse your business performance to reflect on the last financial year and set the direction for the new one. Use Analytics Plus, the Budget Manager and report customisation to make better decisions. 28 February, 2–2:30pm.Register now
For small businesses who process payroll, refresh the steps to review and process payroll at financial year end. Learn about report updates, see worked examples from the payroll blog and be informed of some rate changes. 2 March, 2–2:30pm.Register now
Prepare for EOFY with Xero
Xero has the tools you need to keep track of your accounts and take tax time out of the too hard basket.
Easy quoting and invoicing
Send online invoices as soon as the job is done. Set automatic reminders to spend less time chasing payments.
Simple bank reconciliation
Keep track of your cash flow with daily bank reconciliation. Save time and stay up-to-date on your finances.