Ask your Aspen advisor:
“Before 30 June, what should we be checking in the SMSF so we do not miss a cap, a pension payment or a paperwork issue?”
As 30 June gets close, SMSFs have their own version of EOFY pressure. A few things need to happen on time, a few others need to be documented properly, and the easiest fixes are usually the ones done before year-end, not after it.
Contributions
The first trap is timing. Contributions generally need to be received into the fund’s bank account by 30 June for both cap and deduction purposes. That sounds obvious, but bank processing times catch people every year.
If you are making a personal deductible contribution, you also need the notice of intent process done properly. And if a pension is about to start, that can bring the timing forward even more.
Contribution strategies
Depending on the member’s total super balance, this time of year may also be relevant for:
- carry-forward concessional contributions
- contribution reserving strategies under the SMSF-only 28-day allocation rule
- non-concessional contributions
- and potentially the bring-forward rules
The source also reminds us that the contribution caps increase from 1 July 2026, with concessional caps moving to $32,500 and non-concessional caps moving to $130,000. That makes the June-versus-July timing question a bit more interesting than usual.
Pensions
If the SMSF is paying pensions, minimum pension amounts need to be paid by 30 June 2026. Missing the minimum can create administrative complications and affect tax outcomes.
This year also has an extra layer because the general transfer balance cap is increasing from $2.0 million to $2.1 million from 1 July 2026. That means the timing of starting a pension before or after 1 July could matter for some members.
Valuations and paperwork
Year-end is also the time to make sure:
- fund assets are valued at market
- supporting evidence is retained
- related-party arrangements are properly documented and commercial
- and pension commencements, commutations and lump sums are backed by signed paperwork and minutes
Final thought
EOFY for an SMSF is not about doing anything dramatic. It is about getting the details right while there is still time to fix them.
If you want a quick review of your fund before 30 June, it is much easier to do that now than to unwind something in July.
