The Australian financial year is the 12-month period from 1 July to 30 June used by the Australian Taxation Office for tax reporting. It applies to personal income tax, company tax, superannuation, and Business Activity Statement cycles.
Notation and current year
The financial year is written as FY followed by the two calendar years it spans:
- FY2024-25 — 1 July 2024 to 30 June 2025.
- FY2025-26 — 1 July 2025 to 30 June 2026.
- FY2026-27 — 1 July 2026 to 30 June 2027.
Short forms such as FY25 or FY26 refer to the year ending in that calendar year, matching ATO publication conventions.
Historical origin
The 1 July start date was inherited from the United Kingdom Treasury, which used a mid-year start to avoid harvest-related disruption to revenue collection. Australia adopted the convention at federation in 1901 and the Commonwealth has retained it since. Most other former British colonies have since shifted, leaving Australia and New Zealand among the few using a mid-calendar year start.
BAS quarter alignment
The Australian financial year divides into 4 BAS quarters:
- Q1 — July to September
- Q2 — October to December
- Q3 — January to March
- Q4 — April to June
Quarterly Business Activity Statements report GST, PAYG withholding, and PAYG instalments on this cycle, per ATO guidance.