As one financial year ends and another begins, many businesses and individuals focus on finalising accounts and lodging returns. But smart financial planning doesn’t stop on June 30—it’s just getting started. The transition from one financial year to the next is the perfect time to step into a more strategic, forward-looking approach to managing your business.

Rather than viewing your accountant as someone you visit once a year to lodge your return, think of them as a key partner in your financial decision-making process all year round. Proactive advisory is the difference between reacting to numbers after the fact and planning for them before they happen.

Why Proactive Tax Planning Matters

A well-timed conversation with your accountant early in the financial year can help you:

• • Optimise your tax structure

  • Take advantage of available deductions and concessions

  • Plan income distribution wisely

  • Time asset purchases and capital investments strategically

• Avoid surprises come June next year

With FY2025–26 now underway, here are some important conversations to have with your accountant in July to September:

1. Reviewing Your Business or Investment Structure

Is your current structure (sole trader, partnership, company, trust or SMSF) still the most tax-effective for your situation? As your business or investment portfolio grows, your structure may need to evolve. Early in the year is a great time to reassess.

2. Timing of Asset Purchases or Sales

Considering buying a vehicle, equipment or technology for your business? Planning to sell a property or shares? Discussing the timing of asset transactions now can impact your depreciation claims, capital gains tax (CGT) exposure and cash flow throughout the year.

3. Income Splitting and Distribution Strategy

For family businesses, trusts or those with discretionary structures, now is the time to plan your income distribution strategy for the year ahead. Being intentional about who receives income and when can result in more efficient tax outcomes.

4. Cash Flow Forecasting and Budgeting

Your accountant can help you create cash flow forecasts, set budgets and prepare for key tax obligations like BAS, PAYG instalments and superannuation contributions. This avoids last-minute stress and ensures smooth operations year-round.

5. Understanding Superannuation Opportunities

Are you making the most of concessional and non-concessional super contributions? Could the carry-forward contribution rules benefit you? Early-year planning gives you the flexibility to optimise super contributions while maintaining cash flow.

6. Identifying Grants, Incentives or Small Business Concessions

There may be federal, state or local business incentives available in FY2025–26. Your accountant can help you identify what you’re eligible for, whether it’s the instant asset write-off, R&D tax incentives or hiring credits.

A Shift in Mindset: From Compliance to Strategy

EOFY tends to be compliance-focused, but the start of the new financial year is where strategy lives. By booking in an advisory session now, you’re not just preparing for tax season, you’re building a roadmap for smarter financial decisions over the next 12 months.

This shift from reactive to proactive can be game-changing for your business and personal wealth.

Need Help Getting Started?

If it’s been a while since your last strategic conversation, or if you’re unsure where to begin, now’s the perfect time to connect. Whether it’s a simple check-in or a deep-dive planning session, a proactive approach in July can deliver real benefits by next June.

Let’s start the conversation today and set FY2025–26 up for success.