EOFY super contributions guide for 2026

For the 2025–26 financial year, the concessional contribution cap remains $30,000, while the non-concessional contribution cap remains $120,000. Concessional contributions include employer super guarantee payments, salary sacrifice contributions and personal deductible contributions. These contributions are generally taxed at 15% within super, making them an effective way to reduce taxable income while growing retirement savings.

Non-concessional contributions are made with after-tax money and can help accelerate wealth accumulation in superannuation. Depending on your circumstances, you may also be able to utilise the bring-forward provisions to contribute multiple years of non-concessional caps in advance.

Reviewing your total contribution in early June can help ensure you maximise available opportunities while avoiding excess contribution issues.

Salary sacrifice is another tax-effective method to increase super contributions. If you already have an arrangement in place, now is the time to review whether the contribution level remains appropriate. If you have received a salary increase, bonus or other changes to your income during the year, your current strategy may no longer align with your objectives.

For those who have not yet established a salary sacrifice arrangement, there may still be time to make additional contributions before the end of the financial year, depending on payroll processing deadlines. A well-structured salary sacrifice strategy can help reduce taxable income while strengthening your long-term retirement position.

Making a personal concessional contribution before 30 June may also provide additional tax benefits.

Many Australians choose to make lump-sum contributions toward the end of the financial year once they have a clearer picture of their income position. If you intend to claim a tax deduction for these contributions, it is important to lodge a valid Notice of Intent to Claim form with your super fund and receive confirmation before lodging your tax return. Missing this step can result in the contribution being treated differently for tax purposes, potentially impacting the intended benefit.

Carry-forward concessional contribution rules are available to eligible individuals. If your total super balance is below $500,000 at the previous 30 June and you have unused concessional cap amounts from earlier years, you may be able to contribute more than the standard annual cap and claim a tax deduction. Reviewing available carry-forward amounts now may uncover opportunities to make substantial tax-effective contributions.

Depending on your circumstances, several other contribution strategies may be worth considering.

• Spouse contribution splitting may help equalise super balances between partners and improve future retirement planning flexibility.
• Government co-contributions may also be available for eligible lower-income earners who make personal after-tax contributions to super.
• For Australians aged 55 and over who have sold an eligible family home, downsizer contributions can provide an opportunity to move additional funds into the superannuation environment without impacting traditional contribution caps.

Each strategy has specific eligibility requirements; we always recommend seeking professional advice first before making any decisions.

For individuals approaching retirement, the timing of pension commencements and structural changes can be important this financial year. Transition-to-retirement strategies, account-based pensions and retirement income streams can create tax efficiencies when implemented correctly. However, the timing of pension commencements may influence contribution strategies, transfer balance cap considerations and overall retirement outcomes.

Similarly, Australians considering establishing a self-managed super fund (SMSF) should carefully evaluate timing, compliance requirements and investment objectives before proceeding. If you are already an SMSF trustee, this year presents several additional planning considerations.

• With the proposed Division 296 tax measures continuing to attract attention, trustees should begin preparing for potential cost base reset considerations and ensure appropriate records are maintained.
• Accurate asset valuations are also becoming increasingly important. Trustees should review property, private investment and other asset valuations before the EOFY to ensure records remain current and compliant with regulatory expectations.

Early preparation can help avoid unnecessary complications and place trustees in a stronger position should future legislative changes proceed. This is where a professional and qualified financial advisor ensures you have the right information for your personal circumstances. Timing and strategy are not one-size-fits-all formulas; expert guidance is key to successful retirement planning.

While making an additional contribution before 30 June may seem straightforward, timing matters. In most cases, a super contribution is counted when it is received by your super fund, not when the money leaves your bank account.

This can catch people by surprise, particularly during the busy EOFY period when processing times may be longer than usual. Some common causes of delays include:

• BPAY payments taking several business days to process
• Delays with bank transfers
• Earlier payroll cut-off dates for salary sacrifice arrangements
• Increased processing volumes across super funds during June

If your contribution is received after 30 June, it will generally count towards the following financial year. Plan ahead to maximise EOFY opportunities. Many superannuation strategies require time for contributions to be processed, paperwork to be completed, and eligibility requirements to be met before the financial year ends. To avoid unnecessary delays, it’s a good idea to make any planned contributions at least one to two weeks before 30 June.

The end of the financial year presents an opportunity to review your superannuation strategy. Taking action before 30 June can have a measurable impact on your long-term financial wellbeing. Don’t leave it until the final days of June. Acting early gives your contribution the best chance of being processed on time and counted in the current financial year.

As always, the most effective strategy will depend on your individual circumstances, financial goals and existing superannuation arrangements. If you’re unsure which approach is right for you, seeking professional financial advice can help you make informed decisions and avoid costly mistakes.

Disclaimer: This article contains general information only and does not take into account your personal objectives, financial situation or needs. The information is current as of the date of publication and is subject to change. Before making any financial decisions, you should consider whether the information is appropriate to your circumstances and seek professional financial advice.

The team at First Financial comprises financial experts who help hundreds of Australians retire well and make informed, intelligent financial decisions. We cover everything from retirement and financial advice, investment and wealth management, superannuation and SMSF, insurance, tax, aged care, legal and lending services.

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