EOFY Tax Deductions Your Accounting Practice Shouldn’t Miss Before 30 June
EOFY is a busy season for accountants. Client questions multiply, deadlines tighten, inboxes become unruly little paper dragons, and everyone suddenly remembers they bought a laptop “sometime around August”.
But while you are helping clients prepare for 30 June, it is worth turning the same lens back onto your own accounting practice.
Your firm may have deductible expenses that should be reviewed before the financial year closes, including insurance, technology, professional development, superannuation, subscriptions and prepaid costs. The opportunity is not about rushing unnecessary spending before 30 June. It is about making sure your practice has captured genuine business expenses, reviewed upcoming costs and avoided missing deductions that were already part of running the firm.
Here are key EOFY deduction areas accounting practices should review before 30 June.
1. Professional indemnity insurance and other business insurance
For accounting practices, professional indemnity insurance is more than an operating expense. It is a critical protection for the firm, particularly where advice, tax work, BAS services, audit support or client compliance obligations are involved.
Depending on your practice structure and cover, deductible insurance-related expenses may include:
Professional indemnity insurance
Cyber insurance
Public liability insurance
Management liability insurance
Business interruption insurance
Workers compensation premiums, where applicable
EOFY is a good time to review whether your cover still reflects the way your practice operates.
Consider whether your firm has changed in the past year. Have you added staff? Taken on different client types? Expanded into advisory work? Increased revenue? Moved more client data into cloud platforms? Started offering new services?
These changes may affect your insurance needs.
Before 30 June, review:
Whether your current insurance premiums have been paid
Whether any renewals are due soon
Whether your professional indemnity limit remains appropriate
Whether your cyber risk has changed
Whether your policy reflects your current services and business structure
Insurance should not be treated as a set-and-forget annual chore. For accountants, it sits right beside compliance, client trust and practice continuity.
2. Superannuation contributions for practice staff
If your accounting practice employs staff, EOFY is an important time to check superannuation obligations.
To claim a deduction in the current financial year, employer super contributions generally need to be received by the employee’s super fund by 30 June. Processing the payment on 30 June may not be enough if the funds arrive later.
This is particularly important for practices using clearing houses, payroll platforms or bank transfers that may take several days to process.
Before EOFY, check:
Whether all super guarantee obligations are up to date
Whether June quarter super should be paid early
Whether payment timing could push the deduction into the next financial year
Whether salary sacrifice arrangements have been processed correctly
Whether payroll records reconcile with super payments
It is a small timing detail with a very sharp tail.
3. Accounting software, practice management tools and subscriptions
Accounting firms rely on a growing stack of digital tools. Many renew monthly or annually, and EOFY is a useful time to make sure these costs have been properly captured.
Deductible software and subscription costs may include:
Accounting software
Practice management software
Tax and compliance software
Document signing platforms
Client portal tools
CRM systems
Email marketing platforms
Cloud storage
Cybersecurity tools
Password managers
Workflow and project management software
Website hosting and domain costs
This is also a good time to audit your subscriptions. Some tools may no longer be used, while others may need to be upgraded as your firm grows.
Ask:
Are all software invoices saved?
Are subscriptions paid by the business account?
Are any tools used partly for private purposes?
Are there duplicate systems doing the same job?
Are upcoming annual subscriptions worth prepaying?
The best subscription list is not always the longest one. Sometimes EOFY reveals the digital barnacles stuck to the hull.
4. Professional memberships and registrations
Professional memberships, registrations and industry body fees are common expenses for accounting professionals.
These may include:
CPA Australia membership
CA ANZ membership
IPA membership
Tax Practitioners Board registration
Professional association fees
Industry group memberships
Technical resource subscriptions
Where these costs relate to your current professional work, they may be deductible.
Before 30 June, review whether membership renewals are due, whether invoices have been captured and whether any prepaid membership costs should be discussed with your accountant.
5. CPD, training and technical updates
For accountants, continuing professional development is not optional background decoration. It is part of staying competent, current and compliant.
Training and professional development expenses may include:
CPD courses
Tax update seminars
Webinars
Conferences
Technical workshops
Specialist advisory training
Software training
Books, journals and technical publications
Training must generally relate to your current work or improve the skills used in your current income-earning activities.
EOFY is a good time to check whether all CPD-related invoices have been recorded and whether upcoming training should be booked or paid before 30 June.
6. Office equipment and technology
If your practice needs new equipment, EOFY is a sensible time to review planned purchases.
This may include:
Laptops
Monitors
Printers and scanners
Phones
Office furniture
Servers or networking equipment
Video conferencing equipment
Security hardware
Backup drives
Ergonomic chairs or desks
Eligible practices may be able to immediately deduct the business portion of eligible assets under the instant asset write-off rules, subject to the current threshold and eligibility requirements.
The asset usually needs to be first used or installed ready for use by the relevant date. Ordering equipment before 30 June is not always enough if it is delivered or installed later.
Before purchasing, ask:
Does the practice genuinely need the asset?
Is the business eligible?
Is the asset under the current threshold?
Will the asset be ready for use before the relevant date?
Does any private-use percentage need to be excluded?
A deduction should support a real business need. Buying a shiny new gadget for tax reasons alone is not strategy. It is stationery with ambition.
7. Prepaid expenses
Some accounting practices may benefit from reviewing prepaid expenses before 30 June.
These may include:
Insurance premiums
Software subscriptions
Rent
Training
Professional memberships
Interest on business loans
Website hosting
Marketing retainers
Technical resources
The tax treatment depends on the type of expense, the period covered and your business structure.
Before prepaying, review:
What period the payment covers
Whether the expense is business-related
Whether the payment will be made before 30 June
Whether the deduction should be claimed now or spread over time
Whether prepaying makes sense for cash flow
Prepaying can be useful, but it should not create cash flow pressure simply to chase a deduction.
8. Marketing and website expenses
Many accounting practices are investing more in websites, search visibility, email marketing and client education. These costs may be deductible where they are incurred to promote the practice and generate business income.
Marketing-related expenses may include:
Website updates
SEO work
Google Ads
Social media advertising
Email marketing
Copywriting
Graphic design
Photography
Branding
Brochures and printed collateral
Client newsletters
Lead magnets and downloadable guides
EOFY is a good time to review whether all marketing invoices have been recorded and whether planned work should be completed before 30 June.
For accounting firms, marketing is no longer just about attracting new clients. It is also about educating clients, reducing repetitive questions and building trust before advisory conversations begin.
9. Bad debts and aged receivables
Accounting practices are not immune to overdue invoices.
Before 30 June, review aged receivables and identify any debts that are genuinely unrecoverable. A bad debt may be deductible if it has previously been included as assessable income and has been written off as bad before the end of the financial year.
Review:
Long-overdue client invoices
Disputed invoices
Clients who are unlikely to pay
Recovery steps already taken
Whether the debt has been formally written off
This should be documented carefully. A bad debt deduction is not simply a frustration discount.
10. Home office and hybrid work expenses
Many accounting practices now operate with hybrid work arrangements, remote staff or home-based principals.
Depending on your circumstances, deductible costs may include:
Electricity
Internet
Phone
Office furniture
Computer equipment
Cleaning
Software
Work-related stationery
The correct treatment depends on how the home is used, whether there is a dedicated work area, the business structure and whether occupancy costs are involved.
Take care before claiming occupancy expenses, as they can have broader tax implications, including potential capital gains tax consequences.
This is one area where guessing can create more problems than it solves.
11. Client gifts and entertainment
Some client relationship expenses may be deductible, but entertainment rules can be complex.
Before EOFY, review:
Client gifts
Referral gifts
Event costs
Client lunches or hospitality
Staff functions
Promotional items
The treatment will depend on what was provided, who received it and whether it is considered entertainment.
Keep clear records and avoid assuming that every client relationship expense is deductible. The tax system is not especially romantic about long lunches.
12. Bank fees, merchant fees and finance costs
Accounting practices should also check that finance-related costs have been captured.
These may include:
Bank account fees
Merchant fees
Payment platform fees
Interest on business loans
Loan establishment fees
Equipment finance costs
Credit card fees for business transactions
Where loans or credit cards are used partly for private purposes, expenses may need to be apportioned.
13. Stationery, printing and office supplies
Even in a cloud-first practice, office supplies still appear like mushrooms after rain.
Check whether your practice has recorded expenses for:
Printing
Paper
Toner
Stationery
Postage
Archive boxes
Client folders
Office consumables
Kitchen supplies for staff
These may seem small individually, but they can add up across the year.
EOFY checklist for accounting practices
Before 30 June, review:
Superannuation payments for staff
Software and practice management subscriptions
Professional memberships and registrations
CPD and training expenses
Office equipment and technology purchases
Prepaid expenses
Marketing and website costs
Bad debts and aged receivables
Home office and hybrid work expenses
Client gifts and entertainment
Bank fees and finance costs
Stationery and office supplies
Don’t forget your own practice
Accountants spend EOFY helping clients make better decisions. But your own practice deserves the same level of attention.
A short review before 30 June can help identify missed deductions, clean up records, check insurance, manage super timing and prepare the firm for a smoother new financial year.
It is also a practical reminder to review whether your professional indemnity and cyber cover still match the risks your practice carries today.
The best EOFY preparation is not rushed. It is calm, documented and done before the deadline starts breathing down your neck.
General information only. This article does not take into account your specific circumstances and should not be relied on as tax advice. Speak with your accountant or registered tax adviser before acting.
