EOFY Contributions

Discussion in 'Superannuation, SMSF & Personal Insurance' started by Owlet, 27th Jun, 2022.

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  1. Owlet

    Owlet Well-Known Member

    Joined:
    25th Jun, 2015
    Posts:
    757
    Location:
    VIC
    If I make a contribution today - will it clear and be received in time to count this EOFY? I am with Host Plus.
    Yes I am have phoned them and am on hold. I was hoping someone who has done this could answer this.
     
  2. wylie

    wylie Moderator Staff Member

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    18th Jun, 2015
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    Location:
    Brisbane
    Is this superannuation?

    I was told by my super company deposit needed to be in by 20th June to ensure it is processed. I'd call Host Plus and ask for clarification of the cut off date.

    Edit: Just re-read and it seems you are on hold right now.
     
  3. Owlet

    Owlet Well-Known Member

    Joined:
    25th Jun, 2015
    Posts:
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    Location:
    VIC
    Thanks Wylie

    I was on hold for an hour, no answer. No answer using their chat function either. While waiting, I read in some small print that it had to be in before 3pm on 26th - but that was a Sunday and I wanted to check if this was really the case - because whenever I transfer money any other way it does not take more than 3 days. I took this as a sign that I wasn't meant to contribute - just give more to the taxman.
     
  4. Propin

    Propin Well-Known Member

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    7th Mar, 2016
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    Location:
    Perth
    I put mine in then the market crashed the next day. Hopefully it took a few days to process..
     
  5. Stoffo

    Stoffo Well-Known Member

    Joined:
    14th Jul, 2016
    Posts:
    5,301
    Location:
    In the Tweed
    I got online today and tried to deposit into my fund.
    AusSuper, it took me 4 min !
    Couldn't direct deposit, but have a direct debit scheduled for tomorrow (from my bank acc into my Superanuation acc) ;)
    So it is possible depending on your fund o_O

    Edit: as per your post @6:02, I don't believe you can transfer/deposit in time, it has to be a debit from your bank account to be done officially "in time" to meet ATO requirements
     
  6. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

    Joined:
    18th Jun, 2015
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    Location:
    Sydney
    These days there are ways to transfer in real time. The funds must be received by 30 June. It may involve walking into a branch