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