Discover how the EOFY sales period can help boost your business growth. Find great deals to help drive revenue and set your business up for success in the new financial year.
At the end of each year, we often carve out space to reflect – even if it’s a busy time. Some of us even make New Year’s resolutions, committing to changes to improve our lives. If you’re an Australian business owner, you get a second chance at ‘New Year’ with each new financial year.
Below we explore three ways you can make the most of the end of each financial year, as well as the EOFY sales that come with it, to help you start your new year with a bang.
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Improving revenue and controlling costs are top concerns for Australia’s small and medium businesses. When managing cash flow is an everyday challenge it can be hard to consider the big picture. For business owners, EOFY is a critical time for financial reporting and meeting tax obligations. The information you gather can give you empowering insights into the overall financial performance of your business – should be - The information you gather can give you empowering insights into the overall financial performance of your business.
Consider your broader business and life aspirations when undertaking EOFY reviews. If things aren’t where you’d like them to be, this is the perfect opportunity to take a step back and identify areas for improvement.
Below are some questions to ask yourself.
Look for opportunities to set measurable targets that will help you track your progress in the new financial year.
Give your accountant or financial advisor a clear view of your business aspirations and goals. This means that when end of financial year hits, they can help plan for the new financial year while managing your tax obligations and small business EOFY planning needs.
Review our end of financial year checklist to organise yourself ahead of time. That way you won’t lose the opportunity to think bigger than business activity statements (BAS) and bookkeeping.
Lots of businesses offer special deals as part of end of financial year sales (EOFYS), making it a great time to benefit from special offers on business purchases.
With a clear view of your financial position and goals for the new year, you can explore EOFYS deals that could help boost business performance. Below we list some things to consider.
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End of financial year or EOFY sales generally end on or before the last day of the financial year – 30th June. When do they start? This depends on the retailer in question. Some retailers may start promoting offers in the weeks leading up to EOFY while others might adopt a flash sale approach with a limited time window. If you identify potential EOFY purchases early, you’ll be in a better position to target retailers offering great deals.
Make sure you understand what can qualify as legitimate business expenses and business tax deductions by reviewing guidelines from the Australian Tax Office (ATO). It’s important to seek professional financial advice if you’re not sure.
EOFY sales are often designed to maximise revenue on the books within the financial year. As they’ve become a common part of the ‘trading calendar’, your customers may be on the lookout for great deals towards the end of the financial year.
Many consumers are tuned in to seek a good EOFY deal. Consider how to package and promote stock you’d like to clear out to start the new year afresh. If you offer services, you could create a compelling package to help maximise revenue before the financial year ends. You might even offer products or services some of your customers could claim as tax-deductions in the context of their own work.
If your customers are other businesses, think about how you can create value for them and work within their annual budgeting cycle. Towards the end of the financial year, they may be revisiting their budget and considering EOFY spend versus new financial year budgets.
It’s important to plan your promotions according to where your customers are located. In Australia, the financial year typically runs from 1st July each year to 30th June the following year. But if you have customers in other countries, it’s important to know that the end of financial year varies country by country. Check the specific financial or fiscal year dates in each country if you’re considering offering EOFY promotions to customers internationally.
Amid the financial admin and bookkeeping associated with EOFY lies an opportunity to reflect on your personal and business goals. It’s also a great time to grab a bargain in EOFY sales or potentially launch a new offer for your customers to help boost end of year revenue.
With a bit of planning, you can use EOFY as a catalyst to reset and renew your aspirations. Whether it’s setting new targets for yourself and your business, taking advantage of EOFY sales for business purchases or putting on your own promotions, make sure you maximise the impact of EOFY for your business.
We recommend engaging a qualified financial or tax professional for tailored advice that is specific to your business. This article is general in nature and doesn’t account for your specific objectives, financial situation, or needs. It’s important to consider these factors when making any financial decisions for your business.
Before you make any decision regarding any information in this article you should consult your own legal, financial or tax adviser to consider what’s most appropriate for your business situation and needs. They’ll be able to tailor advice to help you meet your own unique objectives and make the most of EOFY for your business.
First published May 2024, updated May 2025.
Disclaimer: This article is for information purposes only. It’s not intended to provide, and should not be relied on for, financial or tax advice. Telstra is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by use of this article.
Businesses often run EOFY sales to help clear out stock, maximise revenue before closing their books for the financial year, and take advantage of consumer demand. It’s also a great way to help boost cash flow and start the new financial year with fresh inventory.
The end of financial year is important for businesses because it’s typically when they finalise financial records, meet tax obligations, and generally assess overall performance. It’s also a critical time to plan for the future, set new goals, and take advantage of opportunities like EOFY sales.
EOFY sales can be worth it for both businesses and customers. Businesses can help clear stock and boost revenue, while customers can often pick up valuable deals. Planning ahead and knowing what you need can help you make the most of the offers available.
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