When Does the Financial Year Start and End in Australia

Whether you’re a business owner, employee, or self-employed professional, understanding when the financial year begins and ends is crucial for every Australian taxpayer. Getting these dates right ensures you meet your tax obligations, avoid penalties, and make the most of available deductions.

The financial year runs from 1 July to 30 June of the following year. This 12-month period serves as the backbone of all tax reporting and compliance activities nationwide.

What is the Financial Year in Australia?

The financial year in Australia differs from many countries, where the financial year aligns with the calendar year. Australia’s July-to-June cycle provides a structured framework for tax reporting, business planning, and government budgeting.

For the current period, the 2025-26 financial year in Australia begins on 1 July 2025 and concludes on 30 June 2026. Simply put, it’s a 12-month period used for tax and accounting purposes. 

At the end of financial year Australia, businesses wrap up their books, create financial statements, and begin finalising tax paperwork. From 1 July through to 31 October, individuals and businesses submit their tax returns to the ATO, who use this information to determine tax liabilities.

Key Financial Year Dates for 2025-26

Understanding the complete Australia financial year calendar helps you stay compliant and organised. Here are the critical dates:

May 2025

• 15 May: Company Tax Returns filing and remittance deadline
• 15 May: Partnership and Trust income tax returns due for lodgement
• 15 May: Individual income tax returns due if using a tax agent
• 21 May: Lodge and pay April BAS (monthly lodgers)
• 21 May: Fringe Benefit Tax return due (paper lodgement)
• 28 May: Fringe Benefit Tax return due (electronic lodgement)

June 2025

• 21 June: Lodge and pay May BAS (monthly lodgers)
• 25 June: Fringe Benefit Tax return due (electronic lodgement via registered tax agent)
• 30 June: End of financial year 2025 – prepare and wrap up your books for 2024-25

July 2025

• 1 July: New financial year begins! Individual tax returns can be lodged from now until 31 October for self-lodgers
• 14 July: Employers must issue PAYG withholding payment summaries (not required if reporting via Single Touch Payroll)
• 21 July: Lodge and pay June BAS (monthly lodgers)
• 28 July: Lodge and pay Q4 BAS for April-June (quarterly lodgers)
• 28 July: Super guarantee contributions for Q4 (April-June) due

August 2025

• 14 August: PAYG withholding payment summary annual report due
• 21 August: Lodge and pay July BAS (monthly lodgers)

September 2025

• 21 September: Lodge and pay August BAS (monthly lodgers)

October 2025

• 1 October: Quarter 2 begins
• 21 October: Lodge and pay September BAS (monthly lodgers)
• 28 October: Lodge and pay Q1 BAS for July-September (quarterly lodgers)
• 28 October: Super guarantee contributions for Q1 (July-September) due
• 31 October: Last day to submit individual income tax returns (self-lodgers)
• 31 October: Not For Profit self-review return deadline

November 2025

• 21 November: Lodge and pay October BAS (monthly lodgers)

December 2025

• 21 December: Lodge and pay November BAS (monthly lodgers)
• 25 December: Christmas Day
• 26 December: Boxing Day

January 2026

• 1 January: New Year’s Day, Quarter 3 begins
• 21 January: Lodge and pay December BAS (monthly lodgers)
• 26 January: Public Holiday
• 28 January: Super guarantee contributions for Q2 (October-December) due

February 2026

• 21 February: Lodge and pay January BAS (monthly lodgers)
• 28 February: Lodge and pay Q2 BAS for October-December (quarterly lodgers)

March 2026

• 21 March: Lodge and pay February BAS (monthly lodgers)

April 2026

• 1 April: Quarter 4 begins
• 21 April: Lodge and pay March BAS (monthly lodgers)
• 28 April: Lodge and pay Q3 BAS for January-March (quarterly lodgers)
• 28 April: Super guarantee contributions for Q3 (January-March) due

May 2026

• 15 May: Company Tax Returns filing and remittance deadline
• 15 May: Partnership and Trust income tax returns due for lodgement
• 15 May: Individual income tax returns due if using a tax agent
• 21 May: Lodge and pay April BAS (monthly lodgers)
• 21 May: Fringe Benefit Tax return due (paper lodgement)
• 28 May: Fringe Benefit Tax return due (electronic lodgement)

June 2026

• 21 June: Lodge and pay May BAS (monthly lodgers)
• 30 June: End of financial year – prepare for EOFY and wrap up books for 2025-26

What You Need to Do Before End of Financial Year

The end of financial year on 30 June requires careful preparation. Here’s your essential checklist:

1. Review and Update Financial Records: Ensure all transactions are recorded accurately. Reconcile bank accounts, credit cards, and merchant facilities to verify every dollar is accounted for.
   
2. Review Income and Expenses: Double-check that all income has been declared and all legitimate business expenses are documented with proper receipts and invoices.
   
3. Prepare Deductions and Tax Concessions: Identify all eligible deductions, including work-related expenses, business costs, depreciation, and charitable donations.
   
4. Finalise Payroll and Single Touch Payroll (STP): Complete all payroll processes, verify PAYG withholding amounts, and ensure STP reporting is up to date.
   
5. Pay Super Contributions: Super guarantee contributions must be paid and received by super funds by 30 June to claim a deduction in the current financial year. Don’t leave this until the last day—allow processing time.
   
6. Complete TPAR if Using Contractors: Businesses using contractors must finalise their Taxable Payments Annual Report.
   
7. Strategise for Next Financial Year: Review your business structure, assess performance, and plan for the year ahead.

Lodgement Requirements by Business Structure

Your obligations during the financial year Australia vary based on your business structure:

Sole Traders and Self-Employed: Lodge an individual tax return including business income and expenses via myTax, paper form, or through a registered tax agent. Self-lodgers must submit by 31 October.

Partnerships: Lodge a partnership tax return by 31 October if self-lodging. Each partner also lodges an individual tax return.

Companies: Lodge a separate company tax return. Most company returns are due by 28 February, though specific dates may vary. Company directors must also lodge individual tax returns for personal income.

If you’re an Australian resident for tax purposes, you must declare all income earned both in Australia and internationally on your Australian tax return.

How to Complete Your Tax Return

Completing your tax return accurately requires organised financial records. Start by generating two key financial statements:

Profit and Loss Statement (P&L): Shows total income and expenses for the year. Expenses are subtracted from income to calculate your taxable profit.

Balance Sheet: Lists your business assets and liabilities to determine net assets.

Once you have these reports ready, you can use them to complete your tax return accurately and clearly demonstrate your financial position to the ATO. 

For a quick estimate before lodging, you can also try our Tax return calculator to get an idea of what you might owe or receive as a refund.

Why the Financial Year in Australia Matters

The Australia financial year structure serves several important functions:

It creates a consistent reporting period for tax purposes, allowing the ATO to efficiently process millions of tax returns. It provides businesses with a standardised timeframe for financial planning, budgeting, and performance measurement. It aligns government budgeting cycles with tax collection, ensuring proper fiscal management.

For business owners, understanding these dates means you can strategically time purchases, payments, and income to optimise your tax position legally and ethically.

Common EOFY Mistakes to Avoid

• Missing super guarantee deadlines can result in lost deductions and penalty charges. 
• Claiming ineligible deductions triggers ATO scrutiny—only claim legitimate business or work-related expenses with proper documentation.
• Failing to declare all income sources is risky, as the ATO receives information from employers, banks, and investment institutions. 
• Poor record-keeping throughout the year creates unnecessary stress at tax time.

How TaxByte Can Help You Navigate the Financial Year

At TaxByte Accountants, we understand that managing the end of financial year Australia can be overwhelming. Our experienced team helps individuals and businesses across all structures—sole traders, partnerships, companies, and trusts—stay compliant while maximising legitimate deductions.

As a trusted tax accountant in Sydney, we provide comprehensive tax compliance services along with year-round support, strategic tax planning, and expert guidance to ensure you’re always prepared. Whether you need assistance with BAS lodgement, super contributions, tax return preparation, or financial strategy, we’re here to help you navigate every aspect of the Australian financial year with confidence.

Don’t let tax time stress you out. Contact TaxByte Accountants today for personalised advice tailored to your unique situation.