Agworld EOFY 2025 Checklist for Growers
As June 30 rolls around, it's a key moment for Australian farmers to wrap up the season and get financially prepared for the one ahead. It's your chance to reflect, reset, and plan with clarity.
At Agworld, we believe good data leads to better decisions, and we help you keep your records in order so that tax time doesn't have to be stressful. With pre-set reports, actual yields, and operational costs per hec tare at your fingertips, your farm management software can become a powerful ally at the end of the financial year (EOFY).
Here's a handy checklist to help you stay on track and make the most of EOFY.
1. Do you have up-to-date collated records for your Farm?
Now's the time to get your books and farm records in order, including financials, asset purchases, and any on-farm improvements you've made. Keeping a clean record of recommendations, actuals, and inputs in Agworld makes it easier to generate reports and summaries when your accountant comes calling.
Tip
Agworld's reporting tools can help track your input costs and application history, making it easier to support your profit and loss calculations. Access your farm data anytime, anywhere with a cloud-based system that lets you securely share reports with your accountant, no matter where you are.Tip: Agworld's reporting tools can help track your input costs and application history, making it easier to support your profit and loss calculations. Access your farm data anytime, anywhere with a cloud-based system that lets you securely share reports with your accountant, no matter where you are.
2. Did you lodge your returns?
Every business must lodge an annual tax return with the Australian Taxation Office (ATO) each year. You need to do this even if you incur a loss or don't meet the tax threshold. What you need to report and how you lodge it depends on your type of business entity. For specific dates and requirements, the ATO website is your best resource.
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Save time by keeping all your data—from paddock plans to crop records—organised in one place. With Agworld, you can quickly reference seasonal activities and application history when needed.3. What are your tax entitlements?
From machinery expenses to agtech investments, many of your on-farm expenses may be eligible for deductions and concessions. Tax averaging, instant asset write-offs, and investment in digital platforms like Agworld could qualify. Your accountant can advise on the specifics.
Tip
Agworld subscriptions may be tax-deductible as a business expense. Plus, with improved data, you may discover new areas of savings and more effective planning opportunities.4. Is your insurance sufficient?
EOFY is the ideal time to review your insurance and ensure it remains aligned with the scale and needs of your farm. Whether it's machinery, infrastructure, or crop cover, your policies should reflect your current operation. Many premiums are tax-deductible, and reviewing them as part of your budgeting can help keep costs predictable. Take time to understand and assess the types of insurance your business truly needs. It's also worth comparing providers to ensure you're getting the right coverage at the best value.
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Use Agworld's budgeting tools to factor insurance into your operational planning, giving you a better grasp of total farm costs. The Crop Insurance Report in Agworld compiles key farm data into one exportable file, ready to share with your insurance agent in just a few clicks.5. How are you planning for the year ahead?
EOFY isn't just about closing the books; it's a great time to set clear goals for the season ahead. Whether you're budgeting, building resilience, or prepping for audits, a clear plan starts with accurate farm data. It helps you make informed decisions and stay on track throughout the season.
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Agworld helps turn those goals into action with planning tools, historical data, and seasonal insights you can share with your agronomist or team. Agworld's budgeting and planning features enhance the accuracy of projecting earnings and expenses. By integrating agronomic plans with detailed financial budgets, users can forecast product requirements, estimate costs, and compare planned versus actual expenditures throughout the season. This comprehensive approach enables better financial management and informed decision-making.Final Thoughts
EOFY doesn't have to be a scramble. With the right tools and systems, it becomes an opportunity to refine your strategy and step confidently into a new season.
- Already using Agworld? Reach out to our Customer Success team if you need help getting the most from your data this EOFY.
- Curious about Agworld? Try a free trial to see how Agworld can simplify planning, reporting, and decision-making on your farm.
Disclaimer: Always seek the advice of a Qualified Tax Professional. This article is not intended as financial advice.
