As the end of the financial year approaches, it’s crucial to ensure your superannuation is in order.
Here are the key points you need to be aware of before 30 June 2026:
Personal Contributions
For those wanting to maximise personal contributions in 2025/26, please carefully review the limits and information provided in our full article (link below). Note that there will be an increase in the contribution limits taking effect from 1 July 2026 as well as an increase in the Total Superannuation Balance threshold from $2m to $2.1m which will be relevant for making non-concessional contributions in 2026/27.
Catch Up Concessional Contributions
Your contributions must be received in your super fund before 30 June 2026 to ensure that:
- you are eligible to claim a deduction in 2025/26 for your contributions made;
- the contribution is counted against your limit in the correct financial year.
Please remember that 30 June 2026 falls on a Tuesday so please do not leave your contributions until the last minute. They need to be cleared in the fund’s bank account on 30 June. Please allow at least three days for any interbank transfer to occur. If making contributions to a retail or industry super fund please ensure your contributions are made by 19 June to ensure they are allocated to your member account by 30 June.
Be sure to double check the amount of actual employer or personal contributions already received / due to be received in your super fund before making any top up contributions.
Catch Up Concessional Contributions
The ‘Catch Up’ contributions rules allow a person with a super balance of less than $500,000 as at 30 June 2025 to make a personal concessional contribution in 2025/26 equal to the unused amount of the concessional contribution limits applicable from 2020/21 to 2024/25. Please note that 2025/26 is the last year in which any unused contributions from 2020/21 can be claimed as they drop off after five years.
Work Test
Any person aged 67-74 must meet the work test before they can claim a tax deduction for a personal contribution. To satisfy the work test, you must work at least 40 hours in a consecutive 30-day period at some time during 2025/26.
Any person aged 75 or older is unable to make personal contributions, their super fund can only accept mandated employer contributions (i.e. superannuation guarantee amounts) on their behalf.
Non-Concessional Contributions
It is possible to ‘bring forward’ up to 3 years of contributions in 2025/26 if you were under age 75 on 1 July 2025 and your total superannuation balance at 30 June 2025 is within the thresholds noted in our contributions article (please see link to article below).
Please note for planning purposes that the contribution limits and the bring forward thresholds will change on 1 July 2026 with effect for 2026/27. These changes are noted in the table provided in our contributions article:
Minimum Pension Payments
If you are in pension phase, please check to ensure you have withdrawn your minimum pension for this financial year before 30 June 2026. Where these requirements have not been met your fund will be subject to 15% tax on its pension asset investment earnings, rather than being tax-free.
For our SMSF clients, the amount would have been notified to you in the completion letter in the FY25 financials package. We are actively checking to see if you have withdrawn your pension but please contact us if you are unsure of your minimum pension payment for 2025/26.
For detailed information and step-by-step instructions, please see our full article:
Please contact us to discuss any of the above strategies in more detail.