EOFY Checklist for Tradies in the Hawkesbury Region

5 June

End of financial year (EOFY) is coming up fast, and if you’re a small business owner or tradie in the Hawkesbury region, you’ve probably got more on your mind than spreadsheets.

But let’s be real: leaving it too late can cost you. Missed deductions. Late fees. Super penalties. And the worst one? Realising your accountant wasn’t looking out for you all year long.

To help you stay on top of it, we’ve put together a simple, practical EOFY checklist tailored for Hawkesbury locals.

1. Reconcile Your Books

Before anything else, you need to make sure your numbers are up to date. That means all income, expenses, payroll and bank statements are reconciled and accurate. If your books are a bit all over the place, don’t worry, it’s fixable. But it needs to be done before June 30, not in a panic the night before.

Key tip: Use cloud software like Xero (which we love) to track everything. If it’s been a while since your last tidy-up, a bookkeeper can save you hours.

2. Check Super Payments

Super might seem straightforward, but late payments even by a day mean you lose the tax deduction and may cop penalties from the ATO. If you’ve missed any quarters, you might need to lodge a Super Guarantee Charge statement too.

Payroll software STP compliant? Tick that box as well. It’s not optional anymore.

3. Wrap Up Invoices and Debts

Still waiting on clients to pay? Chase up any outstanding invoices now so your cash flow doesn’t take a hit. On the flip side, go through your own bills, paying what you can before June 30 could help you bring forward deductions.

Bonus: Review your bad debts. If you’ve got invoices that you know won’t be paid, you may be able to write them off and claim them as a deduction.

4. Stocktake and Asset Review

If your business carries stock, it’s time for a stocktake. The ATO requires it, and you’ll want accurate records to claim the right amount of expenses.

Also take note of any big-ticket items you bought, vehicles, tools, laptops. Under current rules, many can be instantly written off if used for business. Talk to your accountant before making last-minute purchases.

5. Review Contractor Agreements

Are your contractors actually contractors? Or should they be classified as employees? It’s a common issue in construction, and getting it wrong can mean backpay, super penalties, and major ATO drama.

Tip: If you haven’t reviewed this in the last year, now’s the time.

6. Get Your Tax Planning Done

This is the one that most business owners skip… and it’s also where the biggest savings can be made.

Tax planning is more than just lodging a return. It’s about reviewing your financials before June 30 and making strategic moves to lower your tax bill, like restructuring your business, distributing through a family trust, or topping up super (the right way).

If your accountant hasn’t had this chat with you by now, that’s a red flag.

7. Plan for the New Financial Year

EOFY isn’t just a finish line, it’s a reset button. This is the time to:

Set your sales goals
Review your pricing
Forecast cash flow
Plan for hiring or equipment purchases
Review your insurances, tools, and memberships

Even just booking a half-hour chat with your advisor to go through the numbers can make a massive difference.

What We Do at Bold Accounting

Based in Windsor and working with tradies and small business owners across the Hawkesbury region, we do more than just tick boxes.

We’re the kind of accountants who:

Speak your language, no jargon, just straight-up advice
Keep your books tidy all year so EOFY isn’t a nightmare
Make sure super and BAS are always on time (and deductible)
Help you plan ahead with regular check-ins, not just once a year
Spot tax-saving strategies most accountants miss

We work with businesses of all sizes, from one-man bands to growing teams, and we understand the ins and outs of trades, construction, and service-based businesses.

So if you're looking for a new accountant in Windsor, need tax advice in Richmond, or want to chat with experienced tax accountants in Penrith, we're your local team that actually shows up.