Why Tax Planning Matters More Than Ever in 2025

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EOFY 2025 Tax Planning Guide for Australian Businesses | Trinity Accounting

Learn effective tax planning strategies for EOFY 2025 with Trinity Accounting. Maximise deductions, improve cash flow, and stay ATO-compliant.

👉 Trinity Accounting Practice
✅ Accounting Firm in Beverly Hills
☎️ 02 9543 6804
📍 159 Stoney Creek Road Beverly Hills NSW 2209
🌐 www.trinitygroup.com.au
📅 Weekend & after-hours appointments available
📅 Booking Link: https://calendly.com/ramy-hanna

Why Tax Planning Matters More Than Ever in 2025

As the end of the 2024–25 financial year approaches, Australian businesses face both opportunity and obligation. Effective tax planning is not just about reducing tax — it’s about improving cash flow, growing your business, staying compliant, and preparing for the future.

At Trinity Accounting Practice, we help our clients understand what they can legally claim, when to act, and how to implement forward-thinking strategies that go beyond year-end deductions.

Chapter 1: Understand the Tax Planning Timeline

Early-Year Planning (July–September)

• Review last year’s tax outcomes
• Set forecasting goals
• Plan for potential asset purchases

Mid-Year Assessment (October–February)

• Check in on tax position
• Track super contributions
• Adjust salary packaging or PAYG estimates

Pre-Year-End Strategy (March–June)

• Bring forward expenses
• Defer income if viable
• Review unrealised capital gains or losses

Chapter 2: Take Advantage of the $20,000 Instant Asset Write-Off

Eligible Assets Include:

• Computers and office equipment
• Tools and machinery
• Vehicles under the threshold
• Software subscriptions or upgrades

Action Steps:

• Ensure assets are ready for use by 30 June 2025
• Document asset details
• Consult Trinity for correct treatment in your tax return

Chapter 3: Bring Forward Expenses to Reduce This Year’s Tax

Common Prepaid Expenses:

• Rent (12 months max)
• Business insurance
• Interest on loans
• Software subscriptions

Strategy:

• Review cash flow first
• Prepay only when it improves your tax outcome

Chapter 4: Maximise Super Contributions

Contribution Caps for 2024–25:

• Concessional: $30,000
• Non-Concessional: $120,000

Contributions must be received by the fund before 30 June.

Tip:

Use catch-up provisions if you haven’t used your full cap since FY19.

Chapter 5: Identify and Write Off Bad Debts

Requirements:

• Debt previously included as income
• Must be written off before 30 June
• Keep evidence of recovery efforts

Chapter 6: Review Depreciation and Asset Registers

What Small Businesses Can Do:

• Use simplified depreciation
• Instantly write off low-cost assets
• Pool other assets for faster deductions

Action:

• Review asset register
• Reconcile depreciation schedules
• Scrap obsolete items

Chapter 7: Plan for Capital Gains and Losses

Capital Gains Tips:

• Hold for 12+ months for CGT discount
• Offset gains with losses
• Defer sale if income will be lower next year

Chapter 8: Evaluate Business Structure

Questions to Ask:

• Would a trust or company offer more protection?
• Is your personal liability too high?
• Are you eligible for small business CGT concessions?

Trinity can help assess your structure and provide recommendations.

Chapter 9: Understand ATO Compliance Risks

ATO Is Targeting:

• Work-related deductions
• Cash economy issues
• Super guarantee non-compliance
• Incorrect GST claims

Best Practice:

• Keep complete records
• Use Xero (we are certified advisors)
• Lodge BAS, PAYG, and super on time
• Respond early to ATO correspondence

Chapter 10: Take Action on Trust Distributions and Dividends

For Trusts and Companies:

• Document trust resolutions by 30 June
• Review Division 7A loans
• Declare and record dividends properly

Chapter 11: Industry-Specific Tax Tips

Construction & Tradies:

• Claim vehicle costs, tools, and safety gear
• Check PSI rules
• Review subcontractor reports (TPAR)

Childcare:

• Deduct food, educational tools, occupancy costs
• Review employee benefits

Allied Health & Pharmacies:

• Claim uniforms, insurance, memberships
• Review depreciation on equipment

Trinity specialises in industry-specific tax advice.

Chapter 12: Forecast Next Year’s Tax Now

Planning Includes:

• Reviewing income trends
• Projecting PAYG instalments
• Planning future super contributions
• Allocating R&D tax offsets if relevant

Final Checklist Before 30 June 2025

✅ Book a review with Trinity
✅ Finalise payroll and super contributions
✅ Write off bad debts
✅ Prepay deductible expenses
✅ Consider asset purchases
✅ Complete trust resolutions
✅ Review CGT
✅ Lodge BAS and PAYG
✅ Address Division 7A issues
✅ Plan for the year ahead

Why Choose Trinity Accounting Practice

Since 2003, we’ve supported hundreds of businesses across NSW and Australia with tailored tax strategies in industries like:

• Construction
• Childcare
• Medical and allied health
• Hospitality
• Professional services

Our Services Include:

• Xero & MYOB advisory
• Bookkeeping & payroll
• Tax compliance
• Business consulting
• After-hours support

📞 Call 02 9543 6804 or book online: https://calendly.com/ramy-hanna

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