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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

Prompts only. “Verified” means an ATO page we read or excerpted on 17 October 2026.
AreaWhat to reviewStatus
AssetsFirst 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
PoolA pool balance under $20,000 at year end may be written off. See the pool guide.Verified against ATO descriptions
StockA stocktake near 30 June, and the valuation method.Stock rules were not read on an ATO page.
Bad debtsIrrecoverable 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.
PrepaymentsExpenses 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 employeesWhen 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.
RecordsBank reconciliation, receipts and invoices.General prompt, not a legal test
Business and privateApportion 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)