End-of-Financial-Year Builder Checklist

Your 6-week countdown to a clean year-end — every action item, every lodgement, every deduction Australian builders commonly miss.

6 WEEKS OUT Mid-May: get the books in shape

The work that's easiest to do early — before the end-of-year scramble. Aim to clear this list by 31 May.

• Reconcile every bank, credit card and loan account up to the latest closed month
• Match supplier statements to your accounts payable — chase missing bills
• Run aged receivables — chase invoices over 30 days, escalate over 60
• Review WIP register — confirm % complete or cost-to-complete for every open job
• Stocktake materials on hand at yard, ute, container, site
• Compare fixed asset register to reality — flag scrapped or sold plant Disposal losses are often missed deductions.
• Year-to-date P&L review — flag anything weird before tax planning
• Book your pre-30-June tax planning meeting with your accountant

2–3 WEEKS OUT Mid-June: decisions & super

This is when most tax-saving decisions actually get made. Don't leave it later.

• Verify every subcontractor ABN via the ATO ABN Lookup Cancelled ABNs = no GST claim, no deduction without withholding.
• Confirm all subbie payments are coded for TPAR — labour vs materials
• Decide on year-end equipment / vehicle purchases for instant write-off / depreciation
• Pay outstanding super so it clears the clearing house by 28 June Cleared, not just paid — only cleared super is deductible this year.
• Bring forward deductible expenses where cash allows
• Defer income where possible — but mind the constructive receipt rules
• Review director loan balances — fix any Div 7A exposure
• Draft trust resolutions if you operate a discretionary trust Must be signed before 30 June or the trustee is taxed at 47%.

1 WEEK OUT Late June: tighten up

The last working week of the year. Lock things down.

• Final super contribution paid and cleared
• All Q4 BAS-period invoices issued and dated by 30 June
• Cut-off date for supplier invoices communicated to subbies and suppliers
• Plant & equipment purchases finalised, in service by 30 June
• Asset transfers / sales / scrapping documented
• Reconcile director and family member drawings
• Audit personal vs business expenses — split out anything mixed

30 JUNE Close-of-business snapshot

The numbers that need to be locked at the strike of midnight.

• Stocktake completed, signed, dated
• WIP schedule finalised — stage of completion locked per job
• Retention monies tracked correctly (held vs released)
• Variations & extras invoiced or accrued
• Bank account balances screenshot / statement saved
• Credit card balances screenshot / statement saved
• Final payroll & STP run for the year

AFTER EOFY July: lodgements & finalisations

Year is closed — now the formal lodgements roll in. Get ahead of them.

• STP finalisation lodged by 14 July
• PAYG income statements delivered to employees via myGov
• TPAR data prep started for 28 August deadline
• Annual workers compensation declaration to iCare / WorkCover / WorkSafe
• State payroll tax annual reconciliation lodged
• Long service levy quarterly return lodged (LSC / QLeave / CoInvest)
• Tax return data pack assembled and sent to accountant
• Home Warranty Insurance financial statements prepped for annual eligibility

BONUS 40 deductions builders commonly miss

Skim this list before you sign your return. We see these missed every single year.

1. Mobile phone (business %)
2. Home office occupancy & running
3. Trade publications & subscriptions
4. HIA / MBA / industry association fees
5. Online training (white card, asbestos, heights)
6. Software subscriptions (Buildxact, Tradify, simPRO)
7. Bank fees on business accounts
8. Interest on business loans & equipment finance
9. Income protection insurance (personal)
10. Public liability premium
11. Professional indemnity premium
12. Contract works insurance
13. Vehicle running costs (logbook method)
14. Tools — instant write-off for sub-threshold
15. Protective clothing & PPE
16. First aid & site safety supplies
17. Site safety equipment
18. Subcontractor labour (full deductible)
19. Legitimate materials wastage
20. Sample products & display materials
21. Marketing & website costs
22. Customer entertainment (within limits)
23. Bad debt write-offs
24. Donations to DGR-registered charities
25. Self-education directly related to trade
26. Workshop / yard / container rent
27. Office supplies & consumables
28. Photocopier / printer leases
29. Mobile internet / hotspot for site
30. Equipment finance interest
31. Hire purchase interest
32. Trade-in losses on plant
33. Asset disposal losses
34. Site signage & banners
35. Vehicle signage & wraps
36. Tax agent fees
37. Bookkeeping fees
38. Legal fees (revenue items only)
39. Software training courses
40. Travel between sites (NOT home → first site)

General information only. This checklist is general in nature and does not constitute personal tax, financial or legal advice. Every builder's situation is different — speak to a registered tax agent before acting on anything here. Builder Accountant is a service of Ace Biz (ABN 89 168 839 076), a Registered Tax Agent in Norwest NSW. Liability limited by a scheme approved under Professional Standards Legislation.