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Superannuation EOFY Checklist & Planning Opportunities

With 30 June approaching, now is the time to check that your SMSF is on track and to take advantage of any planning opportunities available before year end.

Our 30 June checklist highlights the key actions to consider now to help keep your fund compliant, optimise tax outcomes and make the most of available superannuation strategies. If you would like to discuss any of these opportunities, our team is here to help.

What needs to be done before 30 June 2026

1. Have you finalised your contributions for the year?

• Concessional contributions (capped at $30,000) must be received by the fund’s bank account prior to 30 June to be counted in the current financial year. Amounts in transit at 30 June may not qualify, which could result in missed contribution opportunities or excess contributions in a later year.

• Non concessional contributions (capped at $120,000, subject to eligibility) should be reviewed to ensure caps are not exceeded, particularly where bringforward arrangements may apply.

• Consideration should be given to utilising unused concessional contribution caps where available (subject to your total superannuation balance being below $500,000).

• Care should be taken with clearing house or employer contributions, as processing delays late in June may result in contributions being allocated to the following financial year.

REMEMBER CONTRIBUTIONS MUST BE RECEIVED BY THE FUND PRIOR TO 30 JUNE, ALLOW FOR PROCESSING TIMES.

2. Have your minimum pension requirements been met?

• Minimum pension payment requirements must be satisfied prior to 30 June to ensure the underlying pension retains its tax-exempt status on earnings.

• Where pension withdrawals exceed the minimum requirement, consideration should be given to whether the excess should be formally treated as a lump sum commutation, noting the different reporting and tax implications.

PENSIONS MUST BE PAID IN CASH – HAS YOUR SMSF GOT THE LIQUIDITY?

3. Tax planning

• Consideration may be given to realising capital gains or losses prior to year-end where appropriate to manage the fund’s tax position.

• Do your SMSF members have Total Super Balances > $3million? Are you aware of the implications of division 296 taxes, is there any planning or action required before 30 June 2026?

4. Compliance & fund transactions

• All related party transactions, including rent, loan repayments and trust distributions, should be physically paid prior to year-end to ensure compliance with superannuation law and audit requirements.

• Limited Recourse Borrowing Arrangement (LRBA) obligations should be reviewed to confirm that repayments align with agreed loan terms.

• The fund’s in-house asset position should be reviewed to ensure the 5% threshold is not exceeded at yearend.

• Any off-market transfers should be completed and appropriately documented prior to 30 June.

• Confirm that all assets are held in the correct legal name of the trustee

• Review potential exposure to non-arm’s length income (NALI/NALE) provisions

5. Asset Valuations – Market Value Reporting at 30 June

SMSF trustees must ensure assets are reported at market value and supported by appropriate evidence. Key focus areas include:

• Property – supported by comparable sales or independent valuations

• Unlisted entities – supported by Valuation, financial statements and asset backing

• Loans – supported by agreements and repayment history

6. Lease Management

• All lease arrangements, particularly with related parties, should be reviewed to ensure they are:

– Current and appropriately documented

– Reviewed for indexation or market increases

– Reflective of commercial, arm’s length terms

• Where required, independent rental appraisals should be obtained to substantiate market value and satisfy audit expectations.

7. Audit preparation

• Organise evidence for custodial assets (e.g. artwork, bullion).

• Any matters raised in prior year audit management letters should be addressed to avoid repeat issues.

8. Governance and administration

• Trustees should ensure that:

– All trustee decisions are appropriately documented and minuted

– The investment strategy is current and accurately reflects the fund’s investments, risk profile and objectives

– Required regulatory reporting obligations (including TBAR events) have been appropriately captured

9. Estate planning considerations

• Binding Death Benefit Nominations (BDBNs) should be reviewed to ensure they remain valid, current and aligned with your broader estate planning objectives

• Pension structures should be reviewed to ensure they are consistent with intended wealth transfer outcomes

• Enduring Powers of Attorney should be confirmed as valid and appropriate for your circumstances

• Consider whether transitioning to a corporate trustee structure may be appropriate, particularly from a governance and succession perspective

What should be reviewed before 30 June

Contribution strategies

• A review of contribution strategies may provide opportunities to enhance tax efficiency and manage long-term superannuation outcomes, including:

• Timing contributions across financial years (e.g. bringforward strategies)

• Implementing re-contribution strategies to improve tax outcomes for beneficiaries

• Utilising spouse contributions or contribution-splitting to equalise balances between spouses

• Considering contribution reserving strategies where appropriate

FY26 Contribution Caps & Key Thresholds

Have you maximised your contribution opportunities?

Pension Strategies

• Ensure minimum pension payments are met - failure may result in the pension being deemed to have ceased for tax purposes.

• Consider maximising tax-free earnings in pension phase – have you considered commencing pensions for eligible members, do you understand the tax savings?

• Review pension commutations and re-contributions - Assess opportunities to align spouse balances and potentially re-contribute amounts to optimise tax components for estate planning.

• Check transfer balance account (TBA) reporting and cap position - Ensure all pension commencements, commutations and rollbacks are correctly reported and that members have fully utilised their personal transfer balance cap where possible.

Insurance

• Insurance held within superannuation should be reviewed to ensure it remains appropriate for your current needs

• Care should be taken when replacing policies, as new policies may be subject to less favourable terms or underwriting outcomes

• Are contributions or rollovers required to meet insurance premiums?

While many of the above areas are compliance-driven, early planning can make a meaningful difference in:

• managing your tax position

• maintaining SMSF compliance and reducing adverse audit risk

• aligning your super with your broader financial and estate planning goals

We recommend addressing these matters well ahead of 30 June to allow sufficient time for implementation and documentation. Our superannuation team is available to assist with any aspect of your year-end planning.

1. For those with total super balance < $2 million

2. Only available for those with total super balances < $1.76

3. Eligibility threshold increased to $2.1 million at 1 July 2026

4. Eligibility threshold increases to $1.84 at 1 July 2026