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End of financial year contribution dates for members

04 Jun 2020 4 min read

Although this year has proven to be a tough one for most of us, you may still be looking at making a contribution into your superannuation account before the end of financial year.

There are two main ways to make contributions, which we must receive by 12.30pm (AEST) Tuesday 30 June 2020. To ensure we receive your contribution by this date, and that it is reflected in the 2019/20 financial year, please follow the instructions below.

Payment method Due date Notes

BPAY®

Thursday 25 June 2020

  • Up to three business days are required to allow for the clearance and processing of funds from the bank into your super account.

Cheque

Post no later than Monday, 15 June 2020
(for metropolitan – earlier if non-metropolitan)

  • The cheque must be received prior to Tuesday 30 June 2020.
  • You must complete a Lump sum contribution form and post it with your cheque to:
    NGS Super
    GPO Box 4303
    Melbourne VIC 3001

There are a few ways you can make extra super contributions.

After-tax (non-concessional) contributions

Government co-contribution

If you'll earn less than $53,564 this financial year and can invest some extra in your super before 30 June, you could be eligible for a co-contribution by the Government of up to $500.

Find out further information in our fact sheet Let the government top up your super or use our co-contribution calculator to see if you’re eligible and how much you may receive.

Before-tax (concessional) contributions

If you are hoping to take advantage of making contributions with pre-tax money, you can:

  • speak with your employer about setting up regular salary sacrifice contributions, or
  • make an after-tax contribution and claim a tax deduction for that amount.

Further information and eligibility can be found in our Salary sacrifice and save fact sheet.

Understanding your contribution options and limits will help you make informed decisions about the best way for you to grow your super. Find out more here.

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