In Australia, the financial year determines when you report income, lodge tax returns and review business finances. Whether you’re an employee, sole trader or business owner, knowing the financial year dates helps you stay organised and avoid last-minute tax stress.
Many Australians still search for answers like:
- When does the financial year start?
- When does this financial year end?
- What is the tax year in Australia?
- When does the tax year end Australia?
This guide explains the financial year Australia dates, EOFY deadlines and ATO tax year rules in simple terms.
What Is the Financial Year in Australia?
The financial year in Australia (also called the tax year or taxation year) runs from:
1 July to 30 June
So:
- The financial year starts on 1 July
- The tax year ends on 30 June
- The EOFY date is 30 June
- The end of financial year is 30 June
For example:
- Financial Year 2024–25 runs from 1 July 2024 to 30 June 2025
This applies to:
- Individuals lodging tax returns
- Sole traders
- Companies
- Trusts
- Partnerships
The Australian Taxation Office (ATO) confirms this on its official website:
ATO Tax Year vs Financial Year – Is There a Difference?
In Australia, the tax year and financial year are the same.
So if you are wondering:
- When is the tax year in Australia?
- What is the financial year in Australia?
- When does the financial year end?
The answer is simple.
The Australian financial year runs from 1 July to 30 June, and all tax reporting with the Australian Taxation Office (ATO) follows this period.
Unlike some countries, Australia does not use the calendar year (January to December) for tax reporting.
Financial Year Australia Dates (Quick Reference)
Item | Date |
When does the financial year start | 1 July |
When does this financial year end | 30 June |
EOFY date | 30 June |
Tax year Australia dates | 1 July – 30 June |
When is new financial year | 1 July |
End of financial year dates | 30 June |
If you are asking “what financial year are we in?” — you need to identify the current date and determine what period of time it falls into between the 1st of July and the 30th of June.
Australia Financial Year Quarters
The Australian financial year is divided into four quarters. These quarters are used for reporting obligations such as GST and PAYG instalments.
| Quarter | Period |
| Q1 | 1 July – 30 September |
| Q2 | 1 October – 31 December |
| Q3 | 1 January – 31 March |
| Q4 | 1 April – 30 June |
These are critical for:
- BAS lodgement
- PAYG instalments
- Cash flow forecasting
- Compliance planning
For detailed quarterly reporting deadlines, see our guide on BAS due dates in Australia.
Is the Financial Year Structure Fixed?
Many individuals still search:
- When is the financial year?
- When is new financial year?
The structure is fixed:
- Start: 1 July
- End: 30 June
There are no variations for individuals or standard businesses.
However, certain entities (like foreign subsidiaries or some consolidated groups) may apply for substituted accounting periods — subject to ATO approval.
What Is This Financial Year? (How to Identify It Quickly)
If today’s date falls between:
1 July 2025 – 30 June 2026 → Financial Year 2025–26
1 July 2024 – 30 June 2025 → Financial Year 2024–25
Many people search “what financial year are we in?” — the answer simply depends on which period between 1 July and 30 June the current date falls into.
Tax Year Australia Dates and Individual Obligations
For individuals, the tax year is important for:
- Salary and wage reporting
- Calculating the Medicare Levy
- Investment income
- Calculating capital gains tax
- Rental property income
If you lodge your own tax return, the deadline is usually 31 October following the end of the financial year. If you use a registered tax agent, you may receive extended lodgement deadlines.
What to Do Before the EOFY Date (30 June)
- Reconcile all bank accounts: Don’t use unreconciled software balances.
- Finalise payroll and Single Touch Payroll (STP) reporting: Ensure Single Touch Payroll (STP) finalisation is submitted to the ATO before 30 June.
- Review contractor vs employee classification: This can cause problems with payroll tax and superannuation liabilities.
- Check super clearing house timing: Super contributions need to be received by the clearing house before 30 June to be claimable as a deduction in that financial year.
- Document director resolutions: This is particularly important for trusts and companies.
When Does the Financial Year End in Australia?
The financial year ends on 30 June every year.
But the real question is:
- Are you ready before 30 June arrives?
Waiting until July often leads to:
- Rushed decisions
- Missed deductions
- Cash flow problems
- Higher accounting costs
- More scrutiny from the ATO
EOFY should be a planned process, not a last-minute scramble.
Financial Year vs Calendar Year
The financial year calendar in Australia follows a July-to-June structure rather than the January-to-December calendar year used in many countries. The fiscal year start and end in Australia is therefore 1 July to 30 June, and all tax reporting with the ATO follows this period.
So if you are comparing:
Calendar Year | Financial Year Australia |
1 Jan – 31 Dec | 1 July – 30 June |
All tax reporting is based on the financial year.
Practical Planning for the New Financial Year
The new financial year begins on 1 July. Many individuals and businesses use this time to review budgets, financial goals and tax planning strategies.
This is the optimal time to:
- Reset budgets
- Review pricing models
- Rebuild cash flow forecasts
- Reassess staff costs
- Plan capital spend
- Review tax structures
Rather than asking, “what is end of financial year?” consider asking:
- What systems did not perform this year?
- Where did being ‘compliant’ feel reactive?
- Is financial visibility robust enough to support growth?
When Does the Tax Year Start and End in Australia?
Many people ask questions such as:
- When does the tax year start?
- When does the tax year end in Australia?
- When does the year end for taxes?
In Australia, the tax year starts on 1 July and ends on 30 June each year. This period is also referred to as the ATO tax year or financial year.
All income earned within this timeframe must be reported in your annual tax return.
Final Thoughts
The Australian financial year runs from 1 July to 30 June each year. Knowing these dates helps individuals, sole traders and businesses prepare for tax time and manage their finances more effectively.
Planning ahead before the end of financial year (EOFY) can make tax reporting much easier and help you stay organised for the year ahead.
If you need support with bookkeeping, payroll or financial reporting, the Befree team can help simplify your financial processes and keep your records accurate throughout the financial year.
Frequently Asked Questions About the Australian Financial Year
When does the tax year start in Australia?
The tax year in Australia starts on 1 July each year. This marks the beginning of the new financial year used by the Australian Taxation Office (ATO) for tax reporting.
When does the tax year end in Australia?
The tax year in Australia ends on 30 June, which is also known as the end of financial year (EOFY). This is when individuals and businesses finalise their financial records for tax purposes.
What financial year are we currently in?
The current financial year depends on today’s date. For example, if the date falls between 1 July 2025 and 30 June 2026, the financial year is FY 2025–26.