Save Tax Before 30 June: Smart Moves for Tradies

The end of the financial year is a golden opportunity for tradies to tighten up their books and save some cash at tax time. Whether you're on the tools full-time or running your own business, a few smart moves now can make a big difference to your tax bill.

Here’s some tips that many tradies overlook:

Prepay Expenses Before 30 June

If you’re a sole trader or operating through a small business entity, the ATO allows you to prepay certain expenses up to 12 months in advance and claim an immediate deduction. That means you can reduce this year’s taxable income by bringing forward next year’s costs.

Some common prepay examples include:

• Insurance premiums (public liability, tool insurance, vehicle cover)

• Phone and internet bills

• Accounting fees

• Rent on your workshop or storage shed

  
  

Timing is everything — make sure the payment is actually made before 30 June to lock in the deduction for this financial year.

Other Quick EOFY Wins:

• Tool purchases under $20,000: If you’re running a small business, consider any tools or equipment you need now.

• Super contributions: Top up your super before year-end to get a tax deduction (up to the concessional cap).

• Book a quick chat with your accountant: A short meeting could uncover deductions or timing strategies you’ve missed — especially if things have changed in your business this year.

  
  

Don’t DIY Your Tax

It’s easy to miss opportunities or make mistakes when you’re flat out on the job. Working with a tradie-savvy accountant means more deductions claimed, fewer headaches, and a better result overall.

Need any help before the next deadline hits? Get in touch now so we can sort it out while there’s still time to make a difference.

Tools are a great tax deduction for tradies