30 Apr Your EOFY Super Checklist: What to Do Before 30 June 2026

Your EOFY Super Checklist: What to Do Before 30 June 2026

June 30 has a habit of sneaking up on you. One minute it’s the start of the year, the next you’re scrambling to make sure your super contributions have cleared and you haven’t left money on the table. If your financial life is anything like most Australians’, the end of financial year arrives with a mix of opportunity and mild dread.

The good news? A little planning now can make a meaningful difference — not just to this year’s tax bill, but to the super balance waiting for you at retirement. Here’s what’s worth your attention before the clock runs out on 30 June 2026.

First, a Timing Warning You Can’t Ignore

Before diving into strategies, one rule applies to all of them: your contribution must be received by your super fund before 30 June to count towards this financial year’s caps.

If you’re contributing electronically — as most people do — the contribution date is the day the money arrives in your fund’s account, not the day you initiate the transfer. That gap can be several business days. If you’re planning last-minute contributions, build in extra buffer time and check with your fund about their specific cut-off dates. Missing the deadline by even one day means your contribution rolls into 2026/27 and counts against next year’s caps instead.

Concessional Contributions: The Tax-Deductible Power Move

Concessional contributions (CCs) are contributions made from pre-tax money — think employer super guarantee (SG) payments, salary sacrifice, and personal contributions you claim as a tax deduction. They’re taxed at just 15% inside super, which for most working Australians is significantly less than their marginal income tax rate.

The 2025/26 Cap Is $30,000

The CC cap this financial year is $30,000. This includes your employer’s SG contributions (currently 12% of your ordinary earnings), any salary sacrifice amounts, and any personal contributions you intend to claim as a tax deduction.

From 1 July 2026, this cap increases to $32,500 — so if you’re thinking about adjusting a salary sacrifice arrangement for the new financial year, now is a good time to revisit that conversation with your employer.

Make a Personal Deductible Contribution

If you have savings sitting outside super, or you’ve had an unusually high-income year — perhaps from a bonus, an investment property sale, or realised capital gains on shares — contributing to super and claiming a tax deduction can be a smart way to reduce your taxable income.

To use this strategy, you make an after-tax contribution to your fund and then lodge a “Notice of Intent to Claim a Tax Deduction” before the earlier of:

• When you lodge your tax return
• 30 June of the following financial year
• Rolling over, withdrawing, or commencing a pension from that fund

Your fund must acknowledge receipt of the notice before you can claim the deduction. Don’t skip this step — it’s what converts an ordinary contribution into a tax-deductible one.

Example: David, 54, is a self-employed consultant who earned more than usual this year after completing a major project. He makes a personal super contribution and claims it as a deduction. Instead of paying tax at his marginal rate on that income, the contribution is taxed at 15% inside super — and his retirement balance grows in the process.

Don’t Forget Catch-Up Contributions

If your total super balance (TSB) was below $500,000 on 30 June 2025 and you haven’t fully used your CC cap in previous years, you may be eligible to “catch up” by contributing more than the annual $30,000 limit this year.

Unused cap amounts from as far back as 2020/21 can be applied — but only until 30 June 2026. After that date, any unused 2020/21 amounts expire permanently. The maximum amount you could contribute under catch-up rules in 2025/26 is $167,500 (the current year cap plus unused amounts from prior years).

This can be particularly useful if you took time out of the workforce, had lower-income years, or received a taxable windfall — like a redundancy payout or a large capital gain — that you’d like to offset.

Non-Concessional Contributions: After-Tax Money Into Super

Non-concessional contributions (NCCs) are contributions made from money you’ve already paid tax on. They don’t attract a tax deduction, but once inside super, your investment earnings are taxed at a maximum of 15% — compared to your marginal rate of up to 47% outside.

The Annual Cap and Bring-Forward Rules

The standard NCC cap in 2025/26 is $120,000, provided your TSB was below $2 million on 30 June 2025. If you’re under 75, you may be able to bring forward up to two additional years’ worth of contributions — meaning you could contribute up to $360,000 in a single year, depending on your TSB.

Here’s a planning consideration worth noting: NCC caps are increasing from 1 July 2026 (to $130,000 annually, with a bring-forward maximum of $390,000). If your TSB is close to a threshold, it may be worth calculating whether making contributions before or after 30 June gives you more room.

Example: Sandra, 62, has a TSB just under $1.76 million and wants to maximise her super before retirement. By contributing up to $360,000 in NCCs this year using the bring-forward rule, she locks in today’s caps and moves more money into the lower tax environment of super.

Strategies for Couples: Balancing Super Together

Super planning isn’t always an individual exercise. For couples, there are several strategies worth considering to manage balances jointly and improve outcomes for both.

Spouse Contributions and the Tax Offset

If your spouse’s income is $37,000 or less in 2025/26, you may be eligible for a tax offset of up to $540 when you contribute up to $3,000 into their super account. The offset gradually reduces as their income rises above $37,000 and cuts out entirely at $40,000.

It’s a relatively modest dollar amount, but it also helps grow your spouse’s retirement savings — which matters especially where there’s a significant imbalance in super balances between partners.

Government Co-Contribution

Lower-income earners who make a personal (non-concessional) contribution to super may be eligible for a Government co-contribution of up to $500. In 2025/26:

• The maximum $500 co-contribution applies if your income is $47,488 or less and you contribute $1,000
• The co-contribution phases out as income rises, cutting out entirely at $62,488

At least 10% of your income must come from employment or self-employment to qualify.

Splitting Contributions to a Spouse

If you made concessional contributions in 2024/25, you may be able to split up to 85% of those contributions into your spouse’s super account — and this split needs to be completed before 30 June 2026 to affect this year’s TSB figures.

Contribution splitting can help manage transfer balance cap exposure, equalise balances between partners, and improve long-term retirement outcomes as a couple.

The Payday Super Transition: A Risk for Higher Earners in 2026/27

This one sits at the intersection of this year and next, and it deserves attention from anyone who is an employee with a higher income — or who advises someone in that situation.

Payday Super commences on 1 July 2026. Under the new regime, employers will be required to pay super at the same time as wages, rather than quarterly in arrears. This is a significant change — and the transition period creates a potential trap.

Under the current rules, employers have until 28 July 2026 to pay SG contributions for the quarter ending 30 June 2026. But under Payday Super, SG contributions paid from 1 July 2026 onwards will first be applied to reduce any outstanding liability for the June 2026 quarter — before being counted against a July 2026 pay cycle.

For higher-income employees, the effect is that contributions from two different quarters could land in the same financial year (2026/27), potentially pushing them over their concessional contribution cap.

Example: An employee earning $257,500 per year expects $30,500 in SG contributions for 2026/27. But if their employer also pays the $7,200 outstanding for the June 2026 quarter after 1 July 2026, total concessional contributions for the year could reach $37,700 — exceeding the 2026/27 cap of $32,500.

Excess concessional contributions are taxed at your marginal rate, and if retained in super, count towards your non-concessional cap — potentially creating a second problem on top of the first.

What to do now: If you’re a higher-income employee or salary sacrifice into super, it’s worth confirming with your employer when they intend to pay the June 2026 quarter SG, and whether their payroll systems are configured for Payday Super. You may need to adjust salary sacrifice amounts for 2026/27 to avoid an inadvertent breach.

Super Income Streams: Timing Matters More Than You Think

The Transfer Balance Cap Is Increasing

The general transfer balance cap (TBC) — the limit on how much you can transfer into a tax-free retirement phase pension — increases from $2 million to $2.1 million on 1 July 2026.

If you haven’t yet started a retirement phase pension, this creates a genuine timing decision: start now and benefit from tax-free investment earnings sooner (on up to $2 million), or wait until after 1 July to access the higher $2.1 million cap?

If you’ve already started a pension but haven’t fully used your personal TBC, you may be eligible for a proportional share of the $100,000 increase based on your unused cap percentage. In some cases, deferring the transfer of additional amounts until after 30 June may leave you better positioned.

If you have a transition to retirement (TTR) pension and will meet a full condition of release (such as turning 65) before 30 June, it’s worth reviewing whether to commute the pension beforehand to maximise future TBC indexation.

Meet Minimum Pension Payments

For SMSF members receiving a pension, the minimum pension payment for 2025/26 must be made by 30 June. Failing to meet this requirement can have significant tax consequences for the fund, including the loss of exempt current pension income status. Make sure payments have been processed before the year ends.

Other EOFY Opportunities Worth Reviewing

Pre-Pay Deductible Expenses

If you have deductible expenses that you’d normally pay in July or August, bringing them forward into June can reduce your taxable income this financial year. Common examples include:

• Income protection insurance premiums (held outside super)
• Interest on investment loans (fixed rate)
• Rental property expenses
• Work-related subscriptions and memberships

Make sure the expense is genuinely deductible and that pre-payment is appropriate in your situation.

Managing Capital Gains

If you’ve sold investments this year and realised a capital gain, there are ways to reduce the impact. Holding an asset for at least 12 months before selling typically qualifies you for the 50% CGT discount. If you have assets sitting at a loss, selling them before 30 June allows you to offset those losses against gains. A personal deductible super contribution — especially if you have unused catch-up capacity — can also help offset a capital gain directly.

Gifting and Centrelink

For clients receiving Centrelink entitlements, the gifting rules allow up to $10,000 per financial year to be given away without affecting income support payments, subject to an overall limit of $30,000 across a rolling five-year period. Gifting $10,000 before 30 June and another $10,000 from 1 July is one way to provide support to family members across two financial years while staying within the allowable limits.

Quick Checklist: Before 30 June 2026

• Check your total super balance as at 30 June 2025 — this determines eligibility for several strategies
• Review how much room you have under the $30,000 concessional contribution cap (including SG and salary sacrifice already received)
• Consider whether catch-up contributions apply — especially if 2020/21 unused amounts are about to expire
• Determine whether a personal deductible contribution makes sense given your income this year
• Lodge your Notice of Intent to claim a tax deduction if making a personal contribution
• Consider whether spouse contributions or contribution splitting are relevant for your household
• Check eligibility for the Government co-contribution if applicable
• Review super balances as a couple in light of the TBC increase on 1 July 2026
• For SMSF members: confirm minimum pension payments have been made
• Pre-pay deductible expenses where appropriate
• Review any capital gains/losses and consider how super contributions might offset them
• Speak with your adviser about Payday Super implications if you’re a higher-income employee

Ready to Make the Most of This Financial Year?

There’s a lot to think about before 30 June — and the right move depends heavily on your individual circumstances, income, age, super balance, and goals. Some strategies are straightforward; others involve careful sequencing and timing that’s easy to get wrong without proper guidance.

If you’d like to talk through which of these opportunities apply to you, we’d love to help. Reach out to us before June to make sure you have enough time to put any strategies in place before the deadline.

Important information and disclaimer

The information provided in this document is general information only and does not constitute personal advice. It has been prepared without taking into account any of your individual objectives, financial solutions or needs. Before acting on this information you should consider its appropriateness, having regard to your own objectives, financial situation and needs. You should read the relevant Product Disclosure Statements and seek personal advice from a qualified financial adviser. From time to time we may send you informative updates and details of the range of services we can provide.

FinPeak Advisers ABN 20 412 206 738 is a Corporate Authorised Representative No. 1249766 of Spark Advisers Australia Pty Ltd ABN 34 122 486 935 AFSL No. 458254 (a subsidiary of Spark FG ABN 15 621 553 786)