Last Chance to Save Money: 5 EOFY Actions Small Businesses Can Take This Week

With just 7 days until the end of the financial year, small and medium businesses still have time to make strategic financial moves that could save thousands in tax while improving cash flow for FY26. 

Alex Molloy, Co-founder of Valiant Finance, which works with thousands of SMBs across Australia, says many businesses are leaving money on the table by failing to take action before the 30 June deadline. 

“If you’ve been putting off getting your finances sorted, it’s not too late,” Molloy said. “There are still concrete steps businesses can take this weekend and in the coming days to optimise their financial position before EOFY.” 

Valiant Finance has identified five critical actions businesses should prioritise:

1. Reconcile accounts 

“Reconcile your accounts immediately to ensure every transaction is recorded and your tax return is accurate,” Molloy advised. “This isn’t just about compliance, messy books cost you money and increase audit risk.” 

He warned that from 1 July, the ATO will more actively report business tax debts to credit bureaus, making immediate action on outstanding tax obligations critical.

2. Maximise deductions

“Many SMBs leave thousands on the table simply because they haven’t kept proper records,” Molloy said. “Vehicle costs, travel, tools, machinery, marketing – if it’s business-related, claim it.” 

He emphasised the importance of having supporting documentation: “You need records to back it up. For home office or car expenses, you’ll need up to date logbooks and bills to support your claims.”

3. Make strategic asset purchases

Businesses considering equipment, vehicle, or technology purchases should act before 30 June to take advantage of the instant asset write-off. 

“This could slash your taxable income and improve cash flow heading into FY26. But you must act before now as assets need to be installed or ready to use before the new financial year starts,” Molloy said. “Double-check eligibility with your accountant and consider the long-term ROI of any major investment.”

4. Secure cash flow support

“EOFY creates cash flow pressure as expenses pile up and customer payments slow. Don’t drain your reserves or fall behind on obligations,” Molloy warned. 

With access to 90+ lenders, Valiant often settles business funding within 24-48 hours to help businesses manage EOFY cash flow challenges.

5. Boost superannuation contributions

Molloy recommended additional super contributions before 30 June to reduce taxable income while building retirement wealth. 

“If you’re earning $100,000+, additional super contributions can deliver immediate tax savings while building long-term wealth,” he said. “This one you’ll need to take action on ASAP because it takes time for funds to clear.” 

With just days remaining, Molloy urged businesses to act quickly. “These moves can save thousands in tax, improve cash flow, and set you up for a stronger FY26. Don’t waste the opportunity,” he said. 

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