EOFY. Four little letters that cause a big stir every year. Across Australia, June feels like a mad dash—businesses are closing the books, accountants are flat-out, and shoppers are eyeing the biggest mid-year discounts of the season. Whether you’re tidying up your finances, filing your taxes, or bagging a bargain in the EOFY sale 2025, this time of year holds major significance. But what is EOFY, exactly? And why does it matter so much?
Let’s break it down.
What is EOFY?
EOFY stands for End of Financial Year. In Australia, the financial year runs from 1 July to 30 June, making June 30 the cut-off date for assessing income, expenses, and overall financial performance—for individuals and businesses alike. EOFY is when companies finalise their books, employees check their payment summaries, and the ATO opens up tax return submissions.
But EOFY isn’t just about spreadsheets and spreadsheets. It’s also when retailers across Australia clear stock, offering huge discounts in one of the biggest sales events of the year. So, while you’re getting your paperwork in order, you could also be nabbing that dream bag or laptop you've been eyeing — and possibly claiming it as a deduction.
EOFY and Tax Time: What You Need to Know
EOFY marks the start of tax return season. Your tax return is due by 31 October if you’re lodging it yourself (or later if using a registered tax agent). Here's why EOFY is more than just ticking boxes:
- It’s your chance to claim deductions on work-related expenses.
- It's an opportunity to review and organise your financial records.
- And for many, it’s a chance to score a hefty tax refund—if you play your cards right.
How to Organise for EOFY
Feeling overwhelmed by the numbers? Here are a few easy ways to get your finances in order before EOFY hits:
1. Start With Your Records
Gather all relevant documentation, including:
- Income statements
- Invoices for freelance or contract work
- Receipts for work-related purchases
- Superannuation statements
- Private health insurance information
Keep a tidy record of any work-related purchases—whether that’s a new laptop, uniform, or even a work bag (yes, really!). These might be eligible for deductions.
2. Know What You Can Claim
There are tax deductions hiding in plain sight. Depending on your job, you could be able to claim:
- Work bags for women (think laptop bags, tote bags, or professional backpacks).
- Office equipment like printers or monitors
- Travel for work-related events or conferences.
- Education or upskilling courses.
A good rule of thumb: If you’ve paid for something out of your own pocket and use it for work/to earn an income—it could be deductible. Always keep a record and speak to a registered tax agent for advice.
3. Speak to a Professional
Not sure what you can claim? A registered tax agent can help you maximise your return and avoid any ATO headaches.
Hot tip: Buying an item before June 30 can often mean you claim the deduction in this financial year—so the timing of your purchases matters.
The EOFY Sale 2025: What It Is and Why You Shouldn’t Miss It
Beyond the spreadsheets and tax returns, EOFY is famous for its massive sales. From fashion to homewares, EOFY sales are when Australian retailers slash prices to clear stock and boost their end-of-year results.
- Clothing, shoes, and accessories
- Electronics and appliances
- Home furniture and décor
- Work bags, travel accessories, and tech essentials
It’s also when smart shoppers buy items they need for work — that new handbag or backpack might just end up on your tax return.
When is EOFY Sale?
EOFY sales usually kick off mid-June and peak in the last week of June, leading right up to June 30. That’s when the biggest bargains drop—and savvy shoppers know to pounce early.
EOFY Shopping Tips: Spend Smart, Not Fast
Shopping during EOFY isn’t just about snagging a deal. It’s about choosing practical, high-quality items that might also work in your favour come tax time. Here’s how:
1. Plan Your Purchases
Before the sales begin, list what you need. A work bag that fits your laptop? A carry-on for business trips? A wallet that’s chic and practical?
2. Buy Before June 30
To claim an item as a work expense for this financial year, it needs to be purchased before EOFY. Timing is everything.
3. Think Value, Not Volume
It’s tempting to grab anything on sale, but focus on items that offer long-term use. Tottie’s range of work bags and travel totes are a smart pick for exactly this reason.
Can You Really Claim a Work Bag Tax Deduction?
In many cases, yes—if the bag is used for work purposes, such as carrying a laptop, files, or other essentials. For example, a laptop backpack, structured tote, or professional handbag might qualify. Just ensure:
- It’s directly related to earning your income
- You’ve paid for it yourself
- You’ve got a valid receipt
As always, consult a registered tax agent to confirm what's deductible for your unique situation.
Why Tottie Is Your EOFY Must-Have
When EOFY rolls around, you want to invest in products that tick every box: quality, versatility, and purpose. Tottie delivers all three — with bags designed to support women juggling work, family, and travel, without compromising on style.
Our Picks for EOFY:
- Work Bags for Women – Structured, sleek, and practical. Tottie’s laptop-friendly bags are designed for commuting, office life, and client meetings.
- Travel Bags – Off to a conference or sneaking in a weekend away? Our travel backpacks and totes are carry-on compatible, with compartments to keep your tech, snacks, and sleep mask sorted. Think roomy interiors, laptop sleeves, and trolley sleeves for fuss-free getaways or business trips.
- Nappy Bags in Disguise – Stylish enough for brunch, but practical enough for baby essentials.
- Card Holder Wallets – Great EOFY gifts or accessories to complete your look.
Made from durable, wipe-clean materials, Tottie bags are an investment that’ll go the distance—long after tax time is over.
Your EOFY Shopping Checklist
Here’s how to finish the financial year strong:
✔ Organise receipts and income records
✔ Identify claimable purchases
✔ Shop smart with quality in mind
✔ Look for EOFY sales on essentials
✔ Speak to a registered tax agent
✔ Don’t overspend—set a budget!
EOFY is a time to reflect, reset, and re-organise—not just financially, but in the way you live and work. From preparing for tax time to scoring smarter buys during the EOFY sale, there’s so much to gain with a little planning.
And if you're shopping for functional, stylish work and travel bags, Tottie is your go-to for pieces that work as hard as you do.
Ready to shop smart?
Discover the Tottie bestsellers and get ready for the EOFY Sale in 2025
