ClickSuper EOFY 2020 Cut-Off Guide
This information is intended as general guidance only. For specific guidance please refer to the ATO website or consult a professional accountant.
The Contribution Cut-Off Date is:
June 24th, 2020
All contributions which are required to be received by the superannuation funds by June 30th 2020 need to be scheduled for payment within ClickSuper by 4pm AEST on Wednesday 24th June 2020. Superannuation contributions paid after this date may or may not be received by the superannuation fund by 30th June 2020.
Contribution payments must be received by the superannuation fund on or before 28th of July 2020 to be tax deductible. Please refer to the following table to find which tax year the deduction will apply to.
For superannuation contributions based on income earned during the 2019-2020 tax year:
|Close of Business Date*||Employee Contribution Year||Employer Tax Deduction Year|
|30th June 2020||Included in 2019-2020||Deductible in 2019-2020 tax year|
|28th July 2020||Included in 2020-2021||Deductible in 2020-2021 tax year|
|After 28th July 2020||Included in 2020-2021||Non-deductible|
* Close of Business Date refers to the date the contribution is received by the superannuation fund not the date the contribution is debited by ClickSuper.
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