Our good friends at MLC have provided a plethora of useful End of Financial Year (EOFY) resources to help educate and arm you with all of the important ‘in the know’ things that can help you leading up to 30 June. This blog also provides all of the Legislation changes coming for the new financial year and key dates for Praemium Processing.
This blog post will provide you with:
- Super Legislation changes for the new financial year
- Praemium cut-off dates for Praemium Super Processing
- How-to Guides – on accessing important super information on myGov
- Smart Super strategies – helping you boost your super
- Client Concept Cards – helping to explain a range of EOFY-related super strategies
Whilst these resources are extremely helpful, we remind you that they do not replace the need for specialised Financial Advice. As always, be sure to chat with your Financial Adviser or get in contact with our team to make sure the documents below are suitable for your financial situation.
Super Legislation Changes for the New Financial Year
From 1 July 2025, the following changes will take effect:
Transfer Balance Cap indexation
- From 1 July 2025, the Transfer Balance Cap is being indexed up from $1.9m to $2.0m.
- The Transfer Balance Cap (TBC) is a lifetime limit on the amount of superannuation you can transfer into retirement phase accounts. An account-based pension is a retirement phase account in Praemium Super.
- This also acts as a balance cap to be able to make personal contributions.
Superannuation guarantee rate increasing to 12%
- This is the amount of super guarantee contributions that employers must make for eligible employees, in addition to their base salary, increasing from 11.5% to 12%. This is the last of the increases that have been legislated.
Total Super Balance
- The general transfer balance cap, which influences the total super balance threshold, will rise to $2 million starting from 1 July 2025.
- This threshold affects eligibility for non-concessional contributions, spouse contributions, and Government co-contributions.
- Eligibility for contributions is assessed based on the total super balance as of the previous 30 June, rather than at the time the contribution is made.
Contribution caps remain unchanged
- The concessional contribution cap remains at $30,000
- The non-concessional contribution cap remains at $120,000
Better targeted superannuation concessions – Division 296 – paused
- The well-publicised additional tax on super balances over $3m has not passed through parliament.
Don’t forget, Notice of intent to claim or vary a tax deduction (NOI s.290-170) can be easily lodged online by your adviser. This is a straight-through process removing the need for the manual ATO form.
Cut-off dates for Praemium Super processing
All cut-off dates and times are in AEST and relate to when the instruction must be received by Praemium.
| New applications | Cut off |
| Accumulation apps | 24/06/2025 |
| Pension apps | 24/06/2025 |
| Pension Refresh & Internal Account Transfers | Cut off |
| Pension Refresh* & Internal Account Transfers Note that no pension payments will be made in June | 13/06/2025 |
| Contributions/Money In | Cut off |
| Contribution – BPAY | Funds received in fund account by 27/06/2025 – 5.00pm AEST |
| Contribution – SuperStream | Funds received in fund account by 24/06/2025 – 5.00pm AEST |
| Contribution – Direct Debit | 24/06/2025 |
| Non-Concessional Contributions made via cheque (these are limited to Personal Contribution, Spouse Contribution, Downsizer Contribution & Small business CGT Concession) | 20/06/2025 |
| Contribution/Rollovers – Supporting Documentation | 26/06/2025 |
| Non-Concessional Contributions made via cheque (these are limited to Personal Contribution, Spouse Contribution, Downsizer Contribution & Small Business CGT Concession) | All documentation and funds received by 23/06/2025 |
| Payments & Pension Amendments | Cut off |
| Payment request form (Benefit & Commutation Payments) If a full closure, dependant on sell down | 13/06/2025 |
| Adhoc Pension Payment Request | The last payment is made on 25/06/2025. Cut off to be included on this run is 23/06/2025 at 5.30pm AEST. |
| The annual pension review will be performed in early July, and new minimum (and maximum for TTRs) amounts will be set for the new FY, based on 1 July opening balances. Please note that adhoc payments and pension commencements cannot be processed until the completion of the annual review. Typically, this will be after 15 July. | The annual pension review will be performed in early July, and new minimum (and maximum for TTRs) amounts will be set for the new FY, based on 1 July opening balances. Please note that adhoc payments and pension commencements cannot be processed until the completion of the annual review. Typically, this will be after 15 July. |
Further details on cut-off dates
| New Praemium Super Accumulation Account Applications | Applications must be received by 5:00pm AEST on 24 June 2025, in order for a client to be admitted to the fund prior to 30 June 2025. Please note the cut-off dates for contributions and rollovers in the table above. |
| Contributions/Rollovers – supporting documentation | All appropriate supporting documentation (eg. Downsizer Contribution Form) must be received by 5:00pm on 26 June 2025. We recommend that you check with your bank for clearing times and allow plenty of time for funds to clear ahead of the cut-off date. Rollovers: Please keep in mind that some transferring funds can take over three weeks to deliver the member’s benefits via a SuperStream message the fund has initiated, and the timing of receipt is outside of our control. Note that SuperStream clearing houses used for rollovers and employer contributions can have internal delays of up to six days. |
| Benefit payments | This includes account closures, rollover outs, contribution splitting and commutations. Instructions must be received by 5:00pm AEST, 13 June 2025. |
| Adhoc pension payments | Adhoc pension payments in June will continue to be available with the exception of the pension freeze from 10 June 2025 until 14 June 2025.The final cut-off for an adhoc pension payment is not later than 5:30pm AEST 23 June 2025. Please note that adhoc payments and pension commencements cannot be processed until completion of the annual pension review. Typically, this will be after 15 July. |
“How to” guides
Simply click the “how to” guides below to access important EOFY-related super information on myGov.
- How to track your total super balance
- Steps to claiming a tax deduction for a super contribution
- How to monitor carried forward concessional contributions
- Accessing non-concessional contributions information on myGov
- How to monitor the transfer balance account
Smart Super Strategies
This flyer outlines ways clients can boost their super this EOFY.
Client Concept Cards
These client concept cards explain a range of key EOFY related super strategies. Simply click below to access:
- Make tax-deductible super contributions
- Sacrifice pre-tax salary into super
- Top up super with ‘catch-up’ contributions
- Split your super contributions to your spouse
- Top-up your super with help from the Government
- Boost your spouse’s super and reduce your tax
