End of financial year: key dates
Frequently asked questions
What is the final date for FY18/19 superannuation payments?
We recommend that payments are made by Friday 21 June 2019 to help allow legalsuper to process and allocate the payment before 5pm Friday 28 June 2019.
Important note: Payments received after 5pm Friday 28 June 2019, will be allocated to the 2019/20 financial year.
How can I view contributions online?
EmployerAccess is a secure online portal that allows you to manage your employees’ details and contributions. To view completed payments, select the ‘Contribution’ tab and 'Completed Contributions'
How can I make a payment?
You must have a legalsuper account to access your unique legalsuper BPAY reference. Paying contributions via your unique employer account BPAY customer reference number will ensure that your contributions are allocated automatically to your employees’ accounts as per your allocation data. Please note that BPAY payments are generally received within three business days from the date of payment. Therefore, depending on when you pay your contribution, this could mean legalsuper receiving your contribution after 28 June 2019.
legalsuper Biller Code: 29967
To access your unique Customer Reference Number login to EmployerAccess.
Authorised Bank Transfer (ABT)
ABT transfers authorise us to automatically withdraw a specified amount from your nominated bank account. Unlike direct debit, the payment must be authorised every time a contribution return is submitted. ABT transfers are generally received within three business days from date of payment and the funds are allocated automatically, according to your instructions. Therefore, depending on when you pay your contribution, this could mean legalsuper receiving your contribution after 28 June 2019.
Electronic Funds Transfer (EFT)
As EFT payments require manual allocation of contributions to your account, you must ensure that your legalsuper employer number is used as the reference for the payment. EFT payments are generally received within five business days from date of payment. Therefore, depending on when you pay your contribution, this could mean legalsuper receiving your contribution after 28 June 2019.
Note: For all payment methods, any payments received that are not accompanied by sufficient contribution classification data will not be able to be allocated in the first instance.
If you are using legalsuper’s clearing house (SCH Online) you can make payments for contributions via BPAY, EFT or ABT. Payments made via SCH Online may take longer to be received by legalsuper than the timeframes advised above.
If you need assistance, you can contact SCH Online directly on 1300 855 935 between 9am – 5pm (AEST), Monday to Friday or email@example.com
If you are using an alternative clearing house, contact your provider directly. Payments made via an external clearing house may take longer to be received by legalsuper than the timeframes advised above.
What is the effective date of contributions?
The end of financial year is a particularly busy time, payments may take up to five business days to be allocated to the relevant accounts and will be made effective from the date they are first received by legalsuper.
- An EFT payment is made on Friday 21 June 2019
- The payment is received by legalsuper on Friday 28 June 2019
- The payment is allocated to the legalsuper member accounts on Tuesday 2 July 2019 (and will not appear in the member accounts until this date)
- Once allocated, the payment is made effective as at Friday 28 June 2019, as this is the 'received by legalsuper’ date.
Note: BPAY and ABT payments do not require manual allocation. EFT payments made without the correct employer reference number may take longer to allocate.
Download a copy of these FAQs here:Employer end of financial year: key dates (59.95 KB)
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Market volatility update
At the time of writing, the impacts of the Coronavirus are escalating. This update is to keep you informed of rapidly changing situation and the potential impacts on superannuation investments.
Share market volatility
How does recent market volatility affect your super? As with any long term investment, your super will be exposed to many market cycles. It’s reasonable to expect a decrease in growth for Q1/Q2 2020, but keeping a long-term focus will show smoother, steady growth.