EOFY Deductions Checklist for Sole Traders
Updated 17 October 2026 · General information · 2 min read
General information only, not tax or financial advice. This site is not the ATO. Check ato.gov.au or ask a registered tax agent. Last checked against ATO and Parliament sources: 17 October 2026. Examples use made-up numbers. Dates and amounts marked uncertain should be re-checked.
Short answer: Most rows below are prompts to raise with a registered tax agent. The asset rules were checked against ATO pages. Stock, bad debts, prepayments and the super deduction timing were not, and they are marked uncertain.
What to review
| Area | What to review | Status |
|---|---|---|
| Assets | First used or installed ready for use by 30 June 2027, and under $20,000 each, for the instant write-off. Use the helper for the arithmetic. | Verified against ATO descriptions |
| Pool | A pool balance under $20,000 at year end may be written off. See the pool guide. | Verified against ATO descriptions |
| Stock | A stocktake near 30 June, and the valuation method. | Stock rules were not read on an ATO page. |
| Bad debts | Irrecoverable debts, and the difference between writing a debt off and raising a provision. | Bad-debt timing, and whether a provision for doubtful debts is deductible, were not read on an ATO page. |
| Prepayments | Expenses paid before 30 June that relate to a later period. | A threshold of about $1,000 appeared in background research and was not checked on an ATO page. |
| Super for employees | When the fund receives June contributions, alongside Payday Super's 7 business days. Payday Super guide. No fund is recommended. | The deduction rule at 30 June under Payday Super was not verified. |
| Records | Bank reconciliation, receipts and invoices. | General prompt, not a legal test |
| Business and private | Apportion mixed-use costs. | General prompt |
Notes
- The ATO also lists a separate “$1,000 Instant Tax Deduction” for individuals. It is a different measure from the instant asset write-off, and it was not analysed here.
- A deduction reduces taxable income. It is not a refund of what you spent.
- How long to keep records was not re-read. This page does not state a five-year rule as a checked figure.
Questions
Can I claim home-office costs?
Not covered. Ask a registered tax agent.
Is this a complete list?
No. It is a short set of year-end prompts.
What we could not verify
- Bad debt, prepayment, stock and super-deduction rules. Those ATO pages were not read.
- Industry-specific deduction rules.
Sources
- ATO, $20,000 Instant Asset Write-off (last updated 27 August 2026) — ato.gov.au (search excerpt, 17 October 2026)
- ATO, $20,000 instant asset write-off (IAWO) here to stay (last updated 4 September 2026) — ato.gov.au (search excerpt, 17 October 2026)
- ATO, About Payday Super (last updated 10 August 2026) — ato.gov.au (read in full 17 October 2026)