End of financial year explained. Australia's financial year ends on 30 June. Get your finances in order before closing your books for the year. When to lodge your tax return. The due date for most businesses is 31 October. If you have a tax agent, they'll let you know when to lodge.. In the United States, most states retained a 30 June fiscal year-end date when the federal government switched to 30 September in 1976.. In Australia, a fiscal year is commonly called a "financial year" (FY) and starts on 1 July and ends on the next 30 June. Financial years are designated by the calendar year of the second half of the period.
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Summary. The end of financial year is a crucial time for every individual and business in Australia. It is an opportunity to review your financial performance, claim your tax benefits, and plan for the future. By following the checklist in this blog, you will be able to master your end-of-financial-year tasks with ease and confidence.. End of financial year (EOFY) refers to a period of time at the end of the fiscal year when businesses report on financial results. In Australia, the financial year ends on 30 June 2024 and you must lodge your taxes with the Australian Taxation Office (ATO) by 31 October 2024. If you use a registered tax agent they can lodge it at a later date.
