End of Financial Year Update
Important information – end of financial year processing
The end of financial year is an especially busy time for all super funds due to the increased volume of processing requirements.
Member voluntary contributions to your superannuation account
For those who wish to make voluntary contributions in this financial year (2020/21) the following dates apply:
|Transfer method||Processing time||Last chance to action by EOFY |
|BPay||Up to 5 business days||5:30pm (ACST) Wednesday, 23 June 2021|
|Cheque||N/A||Must be received by Statewide Super no later than 2pm Wednesday, 30 June 2021|
Employer super payments
To ensure that contributions submitted via a Clearing House (such as QuickSuper) or Payroll Software are allocated to your employees’ super accounts this financial year (2020/21), the following processing dates apply;
|Transfer method ||Last chance to action by EOFY |
|Direct Debit||5.30pm (ACST) Wednesday, 23 June 2021|
|Electronic Funds Transfer (EFT)||5.30pm (ACST) Friday, 25 June 2021|
Please note that Clearing Houses & Payroll Software are independent of Statewide Super and bank processing times can vary depending on institution.
Importantly, Statewide Super will report contributions as allocated to your employees account on the date the funds are received (date banked).
In order to ensure your transactions are processed before 30 June 2021 and allocated to this financial year, please submit your request to Statewide Super before the following dates:
|Transaction method||Last chance to action by EOFY (ACST)|
|Pension applications and paper-based benefit payment requests||5pm Wednesday, 16 June 2021|
|Notice of intent to claim a tax deduction on personal super contributions for 2019/20 financial year |
Please process your notice of intent on your online account for immediate action or call 1300 65 18 65 for assistance. Please note any submissions for processing your tax deduction via the ATO 290 170 notice of intent form must be received by 5pm Wednesday June, 2021.
|5pm Wednesday, 16 June 2021|
|Online benefit payment requests||4pm Tuesday, 29 June 2021*|
|Online pension change of payment details and commutation||4pm Tuesday, 29 June 2021*|
*Due to the EOFY processing all benefit payments, change of payment details and commutations will cease at 4pm Tuesday, 29 June 2021. We expect access to resume no later than Tuesday the 6th of July 2021. We apologise for any inconvenience this may cause.
Should you have any questions please call our Member Services team on 1300 65 18 65.