The lead-up to 30 June can be a good time to maximise tax benefits that may be available to you inside super. With June 30 fast approaching, it’s time to start thinking about your super for another year.
Our good friends at MLC have put together 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 including five smart strategies that may benefit you now and help boost your super savings.
While strategies can be an effective way to grow your super, always remember the Government imposes strict annual limits on the amount you can contribute to your super each year. If you are unsure, we suggest speaking with your Financial Adviser.
So, before you make any additional contributions, make sure you know how much you’ve already added to your super account(s) during the financial year. Want to know how to track your super balances? Click here
Cut-off dates for SuperSMA processing
A couple of key dates to be aware of for Praemium SuperSMA are highlighted below, along with the EOFY schedule itself which can be seen in full by clicking here:
TUESDAY 11TH JUNE 2024 | FIRST CUT OFF DATE & TIME(S)
- Pension Refresh & Internal Account Transfers by 5pm
FRIDAY 14TH JUNE 2024 | FIRST CUT OFF DATE & TIME(S)
- Payment Request Form (Benefit & Commutation Payments) by 5pm
FRIDAY 24TH JUNE 2024 | FIRST CUT OFF DATE & TIME(S)
- Contributions by 2pm
FRIDAY 26TH JUNE 2024 | FIRST CUT OFF DATE & TIME(S)
- New Applications (Accumulation & Pension) by 5pm
Just a reminder that each superannuation fund will have a certain cut-off before 30 June for contributions to be made (i.e. contribution must be received by 21 June to ensure it is counted for this financial year) so be sure to be wary of this when looking to make contributions for this financial year.
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