Want a deduction for your super contribution? Leaving it to 30 June may be too late.

Seeking a tax deduction for the current tax year by contributing to your superannuation?

If you are contributing to a retail fund (such as an industry fund), you need to make the contribution early so the fund has time to process the contribution by 30 June. Processing times vary between funds, but generally the contribution needs to be made by 25 June. Check with your fund to obtain their cut-off date.

After making your contribution, you will need to notify the fund of your intention to claim part (or all of it) as a deduction. This notification can occur after 30 June but must be completed (and acknowledged by the fund) before lodging your tax return.

If you require assistance with implementing tax strategies before June 30th, there is still time to act. Please contact us for further guidance.