what is the end of financial year Page 2

The end of the financial year (EOFY) in Australia is June 30th. It's that magical date when accountants breathe a sigh of relief and taxpayers scramble to get their tax returns in order. Businesses finalise their accounts, and it's prime time for tax deductions, write-offs, and planning for the next fiscal period. For individuals, it's the deadline to lodge tax returns for income earned from July 1st of the previous year to June 30th of the current year. So, if you've been avoiding your paperwork, the EOFY is the push to get it done.