EOFY 2026: The Equipment Finance Checklist Every Business Owner Should Run Through Before 30 June | Finlease

Most businesses treat EOFY as a deadline for buying things.

The better move is to treat it as a reason to review everything – what you’re planning to buy, what you’re already paying for, and whether your current finance arrangements are actually working in your favour.

EOFY equipment finance in 2026 involves more than buying new assets before 30 June. The $20,000 instant asset write-off continues for eligible small businesses with aggregated turnover under $10 million, but the asset must be installed and ready for use before 30 June – not just ordered. Beyond new purchases, EOFY is the right time to review existing loan structures, check for better rates across 40+ lenders, and arrange pre-approval for the year ahead. Finlease brokers can turn around pre-approvals in as little as 24 hours for straightforward applications.

Start the finance process now – not the last week of June

The most common mistake at EOFY is leaving finance too late.

Banks have internal processing cut-offs before 30 June. Those deadlines move earlier every year as demand builds. An application submitted in the final week of June may not be processed in time. Pre-approval arranged now means you can move quickly when the right asset comes up.

For eligible small businesses with an aggregated annual turnover under $10 million, the $20,000 instant asset write-off continues for the 2025-26 financial year. Assets under that threshold can be immediately deducted in full rather than depreciated over multiple years. A few things worth knowing:

• The $20,000 threshold applies per asset, not per total purchase. Multiple assets can qualify individually.
• Both new and second-hand assets are eligible.
• The asset must be installed and ready for use before 30 June. Ordered but not yet delivered does not count.
• GST-registered businesses calculate the threshold on the GST-exclusive cost.

For assets above $20,000, structured finance arrangements can still deliver real tax benefits through the small business depreciation pool. Your accountant can work through the specifics of your situation.

One note on the write-off going forward: the 2026-27 Federal Budget confirmed the $20,000 instant asset write-off will be made permanent from 1 July 2026. That’s genuinely good news for small business planning – no more year-to-year uncertainty. But it doesn’t change the 30 June deadline for this financial year.

Review your existing equipment loans before EOFY

This step gets skipped more than any other.

EOFY is a natural moment to look at what you’re currently paying on equipment and vehicle finance and ask whether it still makes sense. Lender appetite shifts. Market rates move. A loan structure that was the best available three years ago may not be now.

There’s also a detail worth understanding on the tax side. The interest component of your equipment loan is generally tax-deductible. When a loan is structured well, the interest portion works harder for your tax position.

If you haven’t had a second opinion on your current finance in the past 12 months, it’s worth getting one before EOFY. Finlease can compare your existing structure against our panel of 40+ lenders at no cost. Send us your current loan details and we’ll tell you whether there’s a better option available.

Check what is still sitting on your asset register

Equipment that’s been scrapped, traded in, or is sitting idle may still be on your books. Removing those assets before 30 June can trigger a balancing adjustment or a deductible loss, depending on the situation. Your accountant can advise on what’s available for your specific circumstances.

If removing an old asset also creates a case for replacing it with something more productive, EOFY is a practical time to finance that replacement. You’re tidying up the books and upgrading capability at the same time.

Consider financing your insurance premiums

Business insurance is a significant annual cost for most operators. Paying it as a lump sum draws down on working capital at exactly the time of year when cash flow is often under pressure.

Insurance premium funding spreads that cost across 12 monthly payments, keeping your capital available for the things that earn you money. Finlease can arrange premium funding for most business insurance types. It’s a straightforward product and one of the most overlooked.

Use EOFY to set up the new financial year properly

The businesses that move quickly in July are usually the ones that had finance conversations in June.

Pre-approved facilities mean you can commit to jobs, acquire assets, and make decisions quickly without going back to a lender every time an opportunity comes up. If your business is planning growth in 2026-27, the conversation to have now is not “what do I need to buy before 30 June” but “what do I want to be able to move on after July 1.”

As finance brokers our role is to help you think through your finance position for the year ahead – not just the next few weeks.

The short version: your EOFY finance checklist

• Planning a purchase before 30 June: start the finance now, not the last week of June.
• Carrying existing equipment loans: get a comparison and check your structure.
• Old assets still on the books: speak with your accountant before EOFY.
• Paying insurance upfront: ask about premium funding.
• Planning for 2026-27: pre-approval is the starting point.

Speak with a Finlease broker to work through any of the above.

Frequently Asked Questions

This article is general in nature and does not constitute financial or tax guidance. Please consult a qualified accountant for guidance specific to your business circumstances.

Q1: Can I claim the $20,000 instant asset write-off in 2026?
A: Yes. Eligible small businesses with an aggregated annual turnover under $10 million can still claim the $20,000 instant asset write-off for the 2025-26 financial year. The asset must be installed and ready for use before 30 June 2026 – not just purchased or ordered. The threshold applies per asset, and both new and second-hand assets are eligible. Speak with your accountant to confirm your eligibility.

Q2: How early do I need to apply for equipment finance before EOFY?
A: As early as possible – ideally four to six weeks before 30 June. Banks and lenders have internal processing cut-offs before EOFY, and those deadlines move earlier each year as application volumes build. An application submitted in the final week of June may not be processed in time. Pre-approval through Finlease can often be arranged in 24 to 48 hours for straightforward applications, giving you time to act when the right asset comes up.

Q3: Is the interest on my equipment loan tax-deductible?

A: The interest component of a business equipment loan is generally tax-deductible. The principal repayment is not. When a loan is structured correctly, the interest portion works harder for your tax position. If you are not sure how your current loan is structured, a Finlease broker can compare it against our panel of 40+ lenders at no cost.

Q4: What happens to the $20,000 instant asset write-off after 30 June 2026?

A: The 2026-27 Federal Budget confirmed the $20,000 instant asset write-off will be made permanent from 1 July 2026. That removes the year-to-year uncertainty many businesses have faced. However, it does not change the 30 June 2026 deadline for the current financial year – assets need to be installed and ready for use by that date to qualify for the 2025-26 deduction.

Q5: Can I get equipment finance approved quickly before 30 June?

A: In many cases, yes. Finlease works with 40+ lenders, including specialist non-bank lenders, and can often arrange pre-approval within 24 to 48 hours for straightforward applications. For finance up to $1,000,000, Fast Track approval may be available without requiring full financials. The earlier you apply, the more options are available – lender queues build in the final weeks of June.