EOFY Planning for Tradies in Queensland: Last Minute Moves That Actually Make a Difference
- 6 hours ago
- 4 min read
The End of Financial Year (EOFY) is coming up fast, and for many tradies, June often turns into a rush between jobs, quoting and chasing payments.
Even in these final weeks, there is still a real opportunity to improve your cash flow, reduce tax and set yourself up properly for the next financial year.
Below are the key areas tradies should focus on before 30 June.
1. Maximise Super Contributions
Super is often overlooked in the trades, especially when cash flow is tight, but it is one of the most effective ways to manage tax while building long-term wealth.
What to consider
Concessional contributions This includes your employer contributions and any extra you choose to put in and claim as a deduction. The cap for 2025-26 is $30,000.
Non-concessional contributions These are after-tax contributions, capped at $120,000 for 2025-26.
For tradies
If you are operating as a sole trader or through a company, it is easy to fall behind on super. EOFY is your chance to catch up and reduce tax at the same time.
Action point: Make sure contributions hit your super fund before 30 June, not being transferred on 30 June.
2. Get Control of Your Debtors (Unpaid Invoices)
Late paying clients are one of the biggest cash flow issues in the trades. Whether it is progress claims or final invoices, unpaid work ties up your money.
Where to focus
Write off bad debts If a client is not going to pay, writing it off before EOFY may allow a deduction.
Chase outstanding invoices A few follow ups now can bring in cash before year end.
Review your job pipeline Look at which jobs are completed but not invoiced, or invoiced but not paid.
For tradies
Progress payments, variations and retention amounts can complicate things. Now is the time to clean this up.
Getting paid before 30 June improves both your cash position and your tax outcome.
3. Review Materials, Stock and Work in Progress
If you hold materials or stock for jobs, EOFY is the time to get your numbers right.
Key considerations
Do a stocktake Account for tools, materials and unused supplies.
Write down damaged or unusable materials If something cannot be used on a job, it may reduce your taxable income.
Review work in progress (WIP) Unfinished jobs may affect how income is recognised.
For tradies
Think leftover materials from jobs, incorrect orders, or items sitting in the ute or workshop.
4. Prepay Expenses Where It Makes Sense
Prepaying certain costs can bring deductions forward into this financial year.
Common tradie expenses
Vehicle registrations and insurance
Tool insurance
Equipment finance interest
Software subscriptions (job management tools, accounting software)
Rent for workshops or yards
Important to know
This only works if it suits your cash flow. There is no point creating pressure just to save tax.
Action point: Review prepayments with your accountant before committing.
5. Review Tools, Vehicles and Equipment
EOFY is one of the best times to review your gear and equipment strategy.
What to look at
Instant asset write-off Eligible small businesses can immediately deduct assets costing up to $30,000 per item under current rules.
Vehicle purchases Utes, vans and work vehicles may offer strong deductions depending on usage and structure.
Tool upgrades Replacing or upgrading essential tools before 30 June may improve your tax position.
For tradies
If you were planning to upgrade your ute, buy new tools, or invest in equipment, timing matters.
Action point: Consider whether to bring forward planned purchases before 30 June.
6. Take a Proactive Approach to Tax Planning
EOFY is not just about receipts and deductions. It is about making decisions that actually support your business.
A tax planning session with your accountant can help you:
Work out whether to delay or bring forward income
Structure your income properly if you operate through a company or trust
Manage GST and BAS obligations
Plan for tax payments so there are no surprises
For tradies
This is especially important if:
You have had a strong year
You have taken on more work or staff
You are growing beyond a one person operation
Key Takeaways for Tradies
Catch up or maximise super contributions
Chase unpaid invoices and clean up debtors
Review materials, stock and unfinished jobs
Prepay expenses where it makes sense
Consider bringing forward tool, vehicle, or equipment purchases
Speak to your accountant before 30 June
EOFY does not have to be a last minute scramble. With the right moves, it becomes a practical checkpoint to strengthen your business for the year ahead.
How Rise Accountants Can Help Tradies This EOFY
EOFY should not feel like something you squeeze in after a long day on site.
At Rise Accountants, we work closely with tradies to turn last minute decisions into meaningful outcomes.
We help you:
Reduce tax through smart super and deduction strategies
Improve cash flow by tightening up invoicing and payments
Make the right call on vehicles, tools and equipment
Plan ahead so next EOFY is not rushed
The focus is simple: keep more of what you earn, stay on top of cash flow, and build a stronger business.
FAQs: EOFY for Tradies
When should I start EOFY planning? Earlier is always better, but even in the final weeks there are still effective actions you can take.
Do I need everything finalised before 30 June? Yes. Most strategies only apply if completed before the end of the financial year.
Is buying tools before EOFY always a good idea? Only if you actually need them and can afford them. It should support your work, not just reduce tax.
Can I still reduce tax if I have had a strong year? Yes, depending on your structure and situation. Timing of income, super contributions and asset
purchases can still help.
Should I write off bad debts? If the client is unlikely to pay and the income has already been recorded, it may be worth doing before EOFY.
Is it worth speaking to an accountant this late? Yes. Even a short discussion can highlight opportunities that are easy to miss when you are busy on the tools.