5 Tax-Smart Moves to Make Early in the Financial Year
Start strong in FY26 with strategies that help you keep more, plan better, and grow confidently.
It’s August. The dust has settled on tax time, and most business owners are back to business as usual. But the smart ones? They’re already making moves for the year ahead.
If you want to stay ahead of the ATO, strengthen your cashflow, and build toward bigger goals — now is the time to set the foundation.
Here are five tax-smart moves to make early in the financial year that can pay off in real, measurable ways.
1. Take stock of where you’re starting
Before you chase new goals, look closely at last year’s performance.
• What actually made you money?
• Where did expenses creep in?
• What didn’t give you a return?
This isn’t just a numbers review — it’s your roadmap. Knowing what worked and what didn’t gives you the clarity to make smarter decisions this time around.
2. Set clear financial targets
Start FY26 with more than a “let’s see how it goes” mindset.
Set real, measurable goals — revenue, profit, drawings, tax saved — and make them visible.
The earlier you define what success looks like, the easier it is to align your strategy (and spending) to match. And if you’ve got team members? Clear financial targets give everyone something solid to row toward.
3. Get ahead on tax planning — not behind
This is the window where strategy matters most.
By December, your options narrow. By May, you’re mostly reacting.
Right now, you’ve got time on your side:
• Review your business structure — is it still working for you?
• Consider super contributions, director bonuses, or trust distributions
• Look for legitimate ways to reduce your tax position over the full year — not just at crunch time.
This is where small shifts now can mean big savings later.
4. Tighten up your systems
Messy systems cost money – and they burn time.
Make this the year you fix what’s clunky:
• Automate your invoicing and expense tracking
• Clean up your chart of accounts
• Make sure your software is still the right fit
• Create better habits around receipts, logbooks, and reconciliations
The result? Less admin stress. More visibility. And smoother conversations with your accountant when it counts.
5. Book a strategy session — before you “need” one
Tax shouldn’t be something you think about once a year.
The most effective tax planning happens when it’s built into your business strategy — not bolted on at the end.
A short meeting now can save you thousands later. It’s also a chance to explore things like:
• Funding growth plans
• Profit extraction
• Fringe benefits
• Investing through your structure
• Preparing for exit or succession (even years out)
If your accountant isn’t having those conversations, you’re not getting full value.
Ready to make FY26 your most financially focused year yet?
We help small business owners make better decisions, reduce their tax stress, and keep more of what they earn — not just at tax time, but all year round.
