Q&A8 Contribution payment timing
Do I have to pay my superannuation contribution prior to 30 June to ensure its tax deductible in that year?
Answer – Yes. In both cases where you pay employee super and personal superannuation contributions, you must ensure the payment has not only been made, but to be certain, the payment must have also been cleared in your bank account. It is best not to leave these type payments until 30 June, in fact, to be sure make them at least 5-10 days prior to 30 June.
The advice provided on this website is general advice only. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs.