We want to ensure the run towards 30 June is as smooth as possible for you and your clients.

Below you’ll find some key dates and information, so you have everything you need in the one place.

June processing cut-off dates

Our last day of processing for the 2019/20 financial year will be on Tuesday 30 June 2020.

Some tasks have earlier cut-offs, so we recommend reviewing the June processing cut-off calendar below to ensure you’re across the deadlines ahead of time.

View the June 2020 processing cut-offs

It’s important to know that any requests received after their processing cut off date will be completed on a best effort’s basis only

Wrap tax elections are now open

If you have Wrap investment clients, you have until 7 July to make your tax elections online for 2019/20 tax reports.

This allows you to customise upcoming tax reports and make choices about CGT reporting and adviser fee deductions for your clients’ tax reports. Tax reports will be available online and we’ll send an email to you and your clients once their tax report is available to view/download.

The tax report notification is sent via email only, so please ensure your client’s email addresses are up-to-date. If your client doesn’t have an email on file, please encourage them to update their details so that they can receive a notification.

If you’d like more information about tax elections, view the tax elections flyer here.

Important EOFY related tasks

   Task where action may be required Who it affects  
   Wrap tax elections - May to July  
  Tax elections are now open. You have until 7 July to make the elections online. IDPS clients  
   Wrap pension indexation - June  
  Once the mid-June pension run occurs, you’ll have until 30 June to ensure the pension settings are correct online before the July 2020 pension recalculation. Pension clients  
   Wrap pension recalculations - July  
  Also known as ‘the pension freeze’, this will occur in the first week of July, so pensions can be recalculated for the new financial year.

You won't be able to make changes to your clients' pensions or withdraw from pension accounts during this time.
Pension clients  
   Work test declarations – July onwards  
  If you have clients aged 65 and over who don’t qualify for the work test exemption and they wish to contribute to super in the 2020/21 financial year, they must satisfy the ‘work test’ requirements for the funds to be accepted.

If necessary, please ensure your clients submit this declaration as early as possibly in July, after working the required hours.
Super clients (65+ years who don’t qualify for the work test exemption)  


Tips to avoid processing delays

  • Check your client’s available cash

    Before submitting withdrawal or rollover requests, check the available cash for your clients to avoid any processing delays.
  • Ensure sufficient cash is available in your clients’ pension accounts so pension payments can be made in June to satisfy any minimum pension requirements for the 2019/20 financial year.
  • Check your super clients direct deposit facility

    Please make sure we can receive and process contributions correctly that are paid by funds transfer by checking your client’s direct deposit facility. If your client intends to make a contribution via EFT to a super account, it’s important the direct deposit facility is set up with the correct contribution type. You can change the contribution type by calling us.
  • Ensure your investment clients’ accounts are ready for tax reporting

    Please check that all relevant and correct cost base information is supplied where assets are being transferred in, to ensure accounts are ready for tax reporting. Incorrect or incomplete cost base information can impact the accuracy of reporting.
  • Submit paperwork as early as possible

    If you’re able to submit paperwork before the provided cut-off dates, we’ll be in a better position to work with you to resolve any unexpected issues before the final cut-off dates.
  • Check that paperwork is completed correctly before emailing it to us

    Ensure that all forms and documents are fully completed and signed by the correct signatories to reduce the risk of any delays in processing.
  • Make sure you’re using the most up-to-date version of our forms available online

Need help?

If you’d like further information, please contact us.