EOFY Checklist

End of Financial Year Checklist

With the end of the financial year fast approaching, we’ve made a list of tasks to help keep you and your business prepared for the EOFY deadlines.

1. Perform inventory stocktake & update your asset register

Conduct inventory counts on all the business’ assets near 30 June. Make sure all records are adjusted before calculating the cost of sales and gross profit. In addition, it is important to review your business’ asset register (e.g. all vehicles – plant equipment or office equipment) in preparation for depreciation and capital gains tax calculations.

2. Take advantage of the instant asset write-offs (IAWO)

Make sure to speak to your Broker regarding the extended instant asset write-offs and take advantage of the concessions currently in place. Some of the important changes to notes in regards to the IAWO are:

  • The threshold has been increased to $150,000
  • Eligible businesses can immediately write-off multiple assets, as the $150,000 tax deductions are available per asset
  • New and used assets are eligible (the asset is installed/in use by 31 December 2020)

If you run out of time to finance the asset before the end of June, don’t worry! Your Broker can arrange to put the facility in place afterwards and refund you the cost. It is important to note that the IAWO has been extended until 31 December 2020.

3. Comply with Single Touch Payroll (STP) and Superannuation obligations

Use STP to report annual wage payments, superannuation obligations and PAYG withholdings for the final pay period for June 2020. Remember, SGC payments made after the 14 June are not tax-deductible.

4. Prepare your EOFY financial statements

Above all, the documents that you should aim to finalise as soon as the new financial year begins are:

  • June 2020 balance sheet
  • The business’ FY 19/20 profit and loss statements.

In addition, it is advisable to finalise any management reports that the business uses regularly.

5. Lodge your final Business Activity Statements (BAS)

Reconcile the following before preparing your annual tax return:

  • GST
  • PAYG
  • FBT
  • Any other financial obligations

6. Make sure all other documents are in order

Just a reminder of the tax returns cut-offs:

  • Sole traders/Partnerships – 31 October 2020
  • Companies – 28 February 2021

Make sure you take advantage of all small business tax concessions. Click here to view the full list.

7. We recommend you always speak with your Accountant 

Good Accountants can add a lot of value to your business. If you’re not getting adequate support from your Accountant, talk to your Broker who will be able to offer alternatives.


For more information, please contact your Pacific Finance Broker via [email protected] or give us a call on (08) 9321 2120.

Invoice Finance

Invoice Finance – A Quick Boost To Your Cashflow

Being in control of your business’ cashflow can be challenging. For instance, not having enough money in the business account each day to pay wages, suppliers, rent and any other financial commitments can be a stressful scenario and yet it is one which most business owners face at some point in time.

It becomes increasingly tricky if your revenue is seasonal or if the cash is tied up in unpaid customer invoices. Pacific Finance Australia can help you secure the necessary funds so that your business’ cashflow remains intact.

How does Invoice Financing work?

Pacific Finance Australia has access to panel of financiers that specialize in Invoice Financing. Invoice Financing also known as Debtor Finance, acts like a revolving line of credit. It ensures that every time you raise an invoice, you receive 80% of that invoice the very next day, without having to wait for the client to pay. When your customer pays the invoice, the funds will go to the financier and you will receive the remaining 20%, less interest and fees.

invoice finance

The benefits of Invoice Financing:

  • Be in control of your cashflow
    The lender pays you 80% of the invoice within 24-48 hours of it being raised. Therefore, day-to-day financial commitments become more manageable.
  • No additional security required
    Your invoice finance loan reduces as your clients pay the invoices. The unpaid invoices are provided as security; as a result no property security is required.
  • Easy access to additional funds
    The finance limit will grow with your business. You will have the ability to take out additional finance, as soon as another invoice is raised. Unlike a bank overdraft which is limited by the amount of equity in your property, invoice finance will grow with your business with no cap.
  • Flexibility with your finances
    You can choose whether you’d like to finance a single invoice or multiple. You even have the option to finance multiple invoices at once. There are a number of ways these can be arranged. You are best advised to speak to our  consultants as to what variation suits your business best.
  • A cost and time effective solution
    You will receive the remaining 20% of the funds when your client pays the invoice (minus the associated loan fees). The loan terms are flexible and are dependent on your business’ payback period – 30, 60 or 90 days.

What you need to secure Invoice Finance:

  • ATO statements
  • Profit and loss balance sheet
  • Aged receivables and payables report
  • Full financial statements
  • List of existing business loans
  • Personal assets and liabilities of the Directors

Grow the business you want with Invoice Finance

Our Finance Specialists are experienced in helping businesses grow through both short-term and long-term business finance solutions, which can be tailored specifically to you. Let us help you give your business the cashflow injection it needs in the short-term, to assist in its growth over time.

Contact your Pacific Finance Broker today on 08 9321 2120 or email us at [email protected] for more cashflow solutions.

Save money by using energy efficient equipment

If the success of your business is reliant on the efficiency of your machinery, you’ll understand the importance of investing in quality equipment. Investing in the markets’ most innovative equipment can lower your operating costs and bring you savings in energy consumption. If you’re thinking about upgrading your equipment, it may qualify as energy efficient. If so, we can offer you a discount on the interest rate.

Be smart about the debt you acquire

Energy efficient equipment finance is a cost-effective funding solution specifically designed to assist in growing your business. You can save the planet as well as your profit and loss. The finance consultants at Pacific Finance can offer you up to 0.70% off the interest rate for any equipment that qualifies as energy efficient.


Secure up to 0.70% off the interest rate for equipment that qualifies as energy efficient

Electric or hybrid cars, busses and trucks

Most European cars

Electric or hybrid engine machinery

Agricultural machinery demonstrating efficient gains

Heavy vehicles powered by natural gas

Replacement machinery demonstrating efficiency improvements


Benefits of energy efficient equipment funding

Reduction in applicable interest rate

Finance available for qualifying equipment from $20,000

Finance 100% of the purchase price (including the GST)

Flexible loan structures available – We can help you structure the loan in such a way that the repayments do not include GST and you pay off the GST in one go.

You can potentially use the GST refunded to you by the ATO quarterly to reduce your repayments and save over the term of the loan.

No need to use other assets in your business as security


Whether you are upgrading your current vehicle or investing in new machinery – think efficiently!

Securing finance through a dealership might seem like a compelling argument because of the lower headline interest rate. However, the dealerships do not have access to the 0.70% discount, which can make the Broker alternative cheaper. Before you make the decision to go with finance offered at dealerships, you should be fully aware of the pros and cons of both Dealerships and Finance Brokers. You can read more about Dealer Finance vs. Finance Brokers by clicking here Dealer Finance vs. Finance Brokers

Make your equipment work for you

Let us help you finance the right equipment for you, so you can focus on running your business and growing it to its full potential. Contact one of our financial consultants on 08 9321 2120 or via email – [email protected] to see if your equipment qualifies.


Make an enquiry now!

commercial finance broking

The value in commercial finance broking

A large successful well-established family business for over 50 years was purchasing property for $4.4 million. They had been with their incumbent Bank for as long as they’d been in business. They had no debt and a squeaky-clean record – a model business and client in every aspect.

The first conversation with their Bank was positive and they were quoted an interest rate of 4.91%.The client then got in touch with a Pacific Finance Commercial Broker who went to the market on the client’s behalf. Pacific Finance was able to secure an interest rate of 3.74%.

The client ended up staying with their bank and were able to get a rate reduction through Broker negotiations. This translated into a $56,160 savings per year and $280,800 in savings over 5 years.

Commercial finance broking

In commercial finance broking, we find that most clients finance facilities can be improved in pricing and more importantly in structuring. Generally the Banks cross-collateralise and take additional security beyond what they otherwise need to. Sometimes and critically, they don’t offer the full range of products that may be required in an optimum strategic portfolio debt stack.

There is a significant advantage in using a commercial finance broker –  Pacific Finance has Brokers who specialise in understanding all business situations and deliver strong outcomes for clients, just like the above example. Facility reviews are relatively easy to do and will not take very long either. Below is a list of the documents we’d use to determine how we might assist a client.

Documents required in the business & personal banking review

  • Business financial report (prepared by your accountant) – Most recent completed profit & loss and balance sheet. For personal reviews – most recent tax return.
  • Management reports – Interim profit & loss for the current financial year, aged accounts receivable and accounts payable.
  • Commitments schedule – Equipment (other than term loans)
  • Loan schedule – Any term loans including your home mortgages with most recent bank statements, specific loan terms and covenants such as security
  • Directors – Personal statement of position
  • ATO – Current portal reports for integrated client account and income tax account
  • Future needs – Succession, expansion, etc.

Let us negotiate on your behalf to help you secure better interest rates. Contact your Pacific Finance Australia Broker on 08 9321 2120 or send us an email for more information – [email protected] 

EOFY Goals

What goals do you want to achieve within the next financial year?



Even with the 30th of June fast approaching, you can still dream big with our wide range of finance options. The EOFY is a very important time of the year for most business owners. Those eager to plan for the next year, this is your chance to dream big, be smart and think efficiently!

EOFY checklist 

Pacific Finance Australia has made a list of essential services to help you achieve your business goals this coming financial year.

  • Tax deductions

    Take advantage of the tax deductions and secure finance for assets under $20,000 

  • Business banking review

    Review your finance with the help of our Pacific Finance Australia banking review 

  • Energy efficient finance options

    Secure energy efficient assets and take advantage of a 0.70% discount on the interest rate

  • Insurance premium funding 

    Maximise the cash flow advantages and minimise Insurance Premium costs. Let us help you secure lower cost funding for your premium invoices 

  • Installing solar 

    Reduce electricity bills by installing solar and lowering monthly costs. After the finance period, you may have next to no cost on electricity 

  • Cash injection options

    Boost your business cash flow or working capital with a range of  cash injection options

  • Superannuation guarantee charge 

    We can fund your Superannuation Guarantee Charge. This helps you preserve your tax deductibility, Directors responsibilities and your cash flow by spreading the payment over 6 months

Dream big

With Pacific Finance Australia, you can expand your business over the next financial year and get the right assistance you require. Let us help you cross a milestone and take you and your company to where you’d like to be.

Contact one of our Pacific Finance Australia Brokers on 08 9321 2120 or via email [email protected] to see how we can assist you with your financial needs.

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Pacific Finance Australia Vehicle Select Program

Pacific Finance Australia can not only provide you with the best finance deal, we can also help you secure the best car buying deal. With more than two decades of experience in the finance industry, we know what you should be paying for your new car.

Making car purchasing one step easier! Let us help you take care of your needs with no hassle. We can help you find your new car at the best price.


  • Negotiations on your behalf

    With our end-to-end car sourcing and buying service, and by using our experience and buying power, we can help you get the best deal on your new car.

  • Car advice

    Providing you with unbiased advice to help determine the right car for you.

  • Best deal 

    Our team of specialists have experience in the field and can negotiate on your behalf, thus helping you save.

  • Saves your time & effort

    Time might not allow you to shop around for the perfect car. Let us do all the hard work and provide you with the best possible options.

  • Arranging a test drive

    We can arrange a test drive around your busy schedule! (Available in most metropolitan areas).

  • Arranging trade-ins

    If you do not know what your current car is worth, you need not worry! Let our team of professionals handle the numbers, and organisation of your trade-in as part of your new car deal.

  • Providing a solution to your financial needs

    Pacific Finance Australia can help you find the best lender to suit your personal needs and financial situation.

Terms and conditions apply. Contact your Pacific Finance Australia Broker today on (08) 9321 2129 or via email at [email protected] to find out how we can assist with your financial needs.

Car Finance Perth

Automation vs Innovation: The Future of Finance

We’re sorry – were you expecting an obvious headline like:Banks vs Brokers: Who should you chose?

Yawn! At Pacific Finance, we see it a different way – we think that in an ever-changing world, the innovators will be the big winners, leaving automation in their wake. So when looking at your financial needs and what is the best option for you, it’s quite clear that innovation will be your best approach.

Automation – just another number

Banks are transactional. They deal with millions of clients, meaning their processes need to be highly automated. While it can be comforting knowing you can easily slip into their system with little fuss, the downside is that you become just another number.

Innovation – personalised finance

With the current economic environment being so tough, we are all working harder to build our businesses and make them sustainable. That’s where innovative finance brokers can help – they have access to dozens of different loan products, some which the banks cannot offer and they’re willing to go the extra mile, using the latest online tools to monitor current and future trends. With their insights, you could find that your loan could be more personalised and customised to your business’ needs.

At Pacific Finance, we constantly analyse loan trends for SME’s to large corporate companies in different industries – creating profiles that innovatively tailor our lending solutions to make them the most relevant and competitive in market.

Time to reassess your finances?

With interest rates currently at extreme lows, now is the perfect opportunity to sense-check your current position and ensure you are maximising the best tools and offers in the market. Whether you’re looking to upgrade equipment, expand your fleet or manage your cash-flow, now is the time to contact your trusted Pacific Finance broker to receive an OBLIGATION FREE QUOTE.