Guest author: Credabl

Credabl’s EOFY smart moves series for dental practice owners highlight the things that may be missed but can make a big difference before 30 June.  And it starts with your accountant. 

Trusting your accountant is essential but don’t hesitate to ask more questions. With a smart checklist in hand, you may be able to uncover more ways to reduce tax, restructure and plan for the next financial year. 

“EOFY is about more than just ticking the compliance box,” says finance specialist at Credabl, Ali Joyce. “For dentists it’s a chance to reduce tax, make smarter financial decisions and prepare for growth.” 

These five questions will help you make the most of that EOFY chat with your accountant.

1. What deductions should I take advantage of before 30 June?

“Many practitioners overlook these opportunities, especially if they’re busy running a practice,” says Ali. “That’s where an early EOFY check-in can help.”

2. Am I eligible for the instant asset write off?

If you're considering purchasing new equipment such as a dental chair, diagnostic tools or a fit-out refresh, the instant asset write off could make it more affordable. Eligible businesses with turnover under $10 million can immediately deduct assets under $20,000.  
 
“It’s worth checking the eligibility criteria with your accountant,” Ali says. “At Credabl, we often help clients determine if now is the right time to invest in new equipment for their practice and one of the markers for this could be eligibility for the instant asset write off.”  

3. Should I restructure or refinance?

As your practice grows, your financial structure might need to evolve. Your accountant can advise if your current setup, whether sole trader, trust or company, is still the best fit. They can also explore refinancing or debt consolidation if needed. This is especially important if you’ve expanded, brought on new partners or are planning to sell or buy into a practice.

4. What does my cash flow forecast look like?

Whether you’re managing Medicare billing cycles, seasonal fluctuations or high upfront costs for supplies, cash flow forecasting is crucial. A proactive accountant can help you plan for larger investments without putting pressure on day-to-day operations. 

“Doctors, dentists and vets often want to invest in their practices, but cash flow is a barrier,” says Ali. “That’s where financial modelling and repayment planning comes in.”  

5. How do I manage or reduce bad debt?

Late patient payments, high overheads and the mixing of personal and practice finances can all create bad debt. An accountant can spot where it’s hurting and suggest fixes. These may include reviewing payment policies, improving invoicing or restructuring debt to make it tax deductible.  

“I often work with practitioners to recycle debt, shifting it from personal to business, so repayments become deductible,” Ali explains. 

EOFY tip: 
Make your appointment with your accountant early. A solid chat now means fewer surprises later and more opportunities to set yourself and your practice up for success. EOFY isn’t just about closing the books, it’s a chance to maximise your deductions, make smart moves and plan ahead. 


Credabl understands the financial needs of dental professionals and can tailor solutions to meet your goals - especially if applying for a loan is on your radar. As a Grow Community member, you're already connected to a trusted network of specialists like Credabl who understand the unique challenges of running a dental practice. Whether you're preparing for EOFY or planning for growth, Grow gives you access to tailored insights, member perks, and professional support every step of the way. Not yet a member? Click here to find out more and to register.

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