Sort Your Super Before EOFY: Make the Most of Your Contributions

Imagine looking at your super next year and wishing you had taken action. Every year, many Australians miss the chance to boost their super and take advantage of valuable tax savings, simply because time slipped away.

But with a few small steps today, you can make a real difference.

Why Sorting Your Super Matters Before EOFY

The end of the financial year (EOFY) is a key deadline for your super. After 30 June, contribution caps reset (although some unused caps can be carried forward), meaning you could lose the opportunity to maximise your contributions for the current year.

Acting before EOFY can help you:

• Boost your retirement savings.
• Take advantage of tax-effective contributions.
• Set yourself up for greater investment growth over time.

Why is super a tax-effective tool?

Tax on Contributions made to your super (within the concessional contributions caps) are generally taxed at just 15%, which is often significantly lower than most people’s personal income tax rate. This means you could potentially pay less tax while building your retirement savings at the same time.

Tax on Investment Earnings in your super is taxed at a maximum rate of 15% while your super is in the accumulation phase. This is typically lower than the tax you would pay on earnings from other types of investments held outside super, such as shares or property.

Tax-free earnings in retirement: Once you retire and move your super into a retirement income stream (such as an account-based pension), investment earnings and withdrawals generally become tax-free.

By making the most of your super before EOFY, you’re taking advantage of a powerful, tax-effective environment designed to help your money work harder for you.

Three Easy Steps to Sort Your Super Contributions Before EOFY

1. Check your current super balance and contributions
   Log in to your MemberAccess portal to review your balance and see how much you've contributed so far.
2. Consider maximising your contribution caps
   Consider topping up your super by making concessional or non-concessional contributions. Learn more about contribution caps and how they work.
3. Make any final contributions early
   Some contributions can take time to process - acting early can help ensure everything is received before the 23 June 2025 deadline.*

If you choose to enhance your super with after-tax income, you may qualify to claim a tax deduction. Claiming this deduction could lower your taxable income, meaning your contribution may be taxed at a lower rate of 15% rather than your higher marginal tax rate. You need to submit a valid "Notice of Intent to claim a tax deduction" form with us and receive an acknowledgment notice from us.

Make a contribution today.

Get EOFY ready: Free, Personalised Support for Your Super

Our experienced Client Service Managers are here to offer you a free, personalised super health check - giving you tailored guidance and support to help you make the most of your super before EOFY. It's a high-value service we offer at no cost to you. and make confident, informed decisions about your financial future. Book your appointment today and make confident, informed decisions about your financial future.

 

^{* If you want to make a voluntary contribution to your super account before the end of the 2024/25 financial year, you’ll need to submit it by Monday 23 June 2025 to ensure it is received and allocated to your account by 30 June 2025. Contributions made after 23 June 2025 may not be allocated to your account prior to the end of the financial year.}