Getting Ready for 2026: Smart Tax Habits to Start Before the New Year!

By Proactive Tax Advisors

As we move toward the end of 2025, now is the perfect time to set up simple tax habits that will make next year smoother and more rewarding.

At Proactive Tax Advisors, we believe good tax outcomes don’t happen by chance — they come from small, consistent habits that keep your finances organised all year round.

Here are five smart habits to start now.

1. Review your bookkeeping system

Whether you use Xero, MYOB, QuickBooks or Excel, your bookkeeping should help you make decisions — not just report data.

Ask yourself:

• Am I keeping all receipts and invoices digitally?

• Are my bank feeds connected and reconciled regularly?

• Can I see profit, expenses and cash flow clearly?

If not, now’s a great time to clean up your system before the new year rush.

2. Plan your cash flow early

Tax planning and cash flow go hand-in-hand. You can’t plan for tax if you don’t know your inflows and outflows.

Start with a simple step:

• Review the next six months of income and expenses

• Forecast your BAS, PAYG, and super obligations

• Identify slow months so you can build a buffer

This helps you avoid last-minute tax shocks — and makes running your business far less stressful.

3. Review your business structure for growth

Your business structure impacts tax, liability, and flexibility. What worked when you started may not suit where you’re heading.

A November–December review helps you ask:

• Is my business still structured in the most tax-effective way?

• Do I need to separate personal and business assets more clearly?

• Should I consider a company or trust for 2026?

The right structure can legally reduce tax and protect your wealth long-term.

4. Check your superannuation setup

Super often gets ignored until June — but starting early gives you more control.

Now’s the time to:

• Review contribution amounts and employer payments

• Consolidate old funds or rollovers

• Check insurance inside super and beneficiary details

Small tweaks now can save you from year-end panic and help grow your retirement savings faster.

5. Set one financial goal for next year

Tax isn’t just about compliance — it’s a tool for building the future you want.

Maybe your goal is to:

• Buy an investment property

• Save for a business upgrade

• Reduce debt or increase savings

Setting one clear goal helps your accountant align your tax strategy with your personal plans.

Final thought

You don’t need to wait until June to think about tax. By building simple, proactive habits before the new year, you’ll step into 2026 confident, organised, and in control.

At Proactive Tax Advisors, we’re here to help you turn tax into opportunity — not just obligation.