With June fast approaching, EOFY is once again on the radar. And while most farmers know it’s time to check in with their accountant, this year, there’s more to consider than usual. With a new government in place and policy changes on the horizon, this EOFY isn’t just about balancing the books—it’s a chance to position your farm business for the long haul.
From accelerated depreciation changes to potential updates in how primary producers are taxed, the window for action is closing fast. And in a year where many South Australian farmers are still managing the fallout of dry conditions, now is the time to be proactive, not reactive.
Stay Ahead of the Policy Curve
Post-election, Canberra is already signalling changes that may directly affect the ag sector. While the exact details are still rolling out, one key area under review is accelerated depreciation—a tax benefit that has helped many farmers write off capital investments faster.
Other areas being discussed:
- The treatment of primary producer income
- Tax incentives for drought resilience or environmental stewardship
- Adjustments to small business thresholds or asset caps
We’ll be watching these developments closely, but here’s the bottom line: acting before 30 June could make a significant difference, especially if new measures reduce future deductions or phase out current benefits.
If you’ve been considering machinery upgrades, fencing projects, or infrastructure investments, it might make financial sense to bring those forward—but only if it aligns with your longer-term goals.
2. Make the Most of This EOFY Window
EOFY doesn’t have to be a mad rush of receipts and spreadsheets. It can be a strategic point in your business calendar—a chance to take stock, tighten your plan, and make decisions with clarity.
Here are a few things we’re helping clients with right now:
- Reviewing year-to-date performance and forecasting
- Timing equipment purchases or capital improvements
- Managing carry-over losses from previous drought years
- Structuring cashflow to optimise tax outcomes
- Using superannuation contributions to strengthen personal financial security
Even simple conversations—like revisiting your debt structure or confirming working capital for the upcoming season—can take the pressure off later.
If you’re still catching your breath from another tough year, we get it. But there’s a reason we keep saying: this planning isn’t just for your accountant—it’s for your future self.
EOFY as a Launchpad for Bigger Conversations
EOFY isn’t just an end point—it’s a transition. A moment when the financial year closes, but the next chapter of your business begins.
We often use this time with our clients to take a step back and look at:
- Succession planning conversations
- Long-term investment in infrastructure
- Business restructuring opportunities
- Aligning personal wealth and business planning
When we connect EOFY decisions to bigger picture goals, that’s when real momentum builds. For example, a client investing in water efficiency infrastructure ahead of EOFY realised they could also bring forward a conversation about handing over partial business management to their daughter. The tax advantage was the bonus—the clarity and direction were the real win.
Why This Matters More in a Dry Year
In tough conditions, the temptation is to go into holding mode. But EOFY is one of those moments where taking action now—even just by running your numbers—can set up a better season ahead.
Whether it’s accessing support like a RIC loan, restructuring debt to free up cash, or simply knowing where you stand—financial clarity helps you lead with confidence, no matter the weather.
And if your bigger goals include succession, transitioning ownership, or scaling back operations, this EOFY might be the perfect prompt to get that conversation started. (If that sounds like you, be sure to read our next article on “Succession in Dry Times”—coming soon.)
Let’s Get to Work Before 30 June
EOFY is a chance to pause, prepare, and set the tone for the year ahead. Whether it’s making the most of tax incentives, preparing for government changes, or just taking control of your numbers — we’re here to help.
May 31 is the new June 30. If you haven’t done what you need to do by the end of May there is a high probability that you will miss the boat for this tax year.
Act early before it is too late.
If you need help mapping out your priorities and ensuring your business can run smoothly in any situation, give Dibbo a call today. Let’s put a plan in place so you’re prepared for whatever comes your way.
📞 08 8253 2906
✉️ info@financialservicessa.com.au
