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With the end of the financial year approaching, here are the administration processing cut-off dates you need to be aware of.
We would like to remind you of the administration processing cut-off times and dates (Melbourne AEST) for the financial year ending 30 June 2025.
These cut-off dates require submission of all required supporting documentation and correct details to ensure completion of client requests prior to 30 June 2025. Any transaction submitted after the cut-off date will be processed as soon as possible but cannot be guaranteed before 30 June 2025.
These client requests include:
- new superannuation, pension and IDPS applications
- pension amendments such as bank account details, pension payment amounts and change of address
- benefit payments and withdrawals
- contributions and incoming rollovers
- term deposits
- any transfer requests for property syndicates, unlisted investments, managed funds and shares (capital gains/loss transactional history should also be provided where applicable)
- internal account transfers
On CFS Edge, please ensure to review all notifications you receive via the platform where you will find any requirements to submitted request. To find these, follow: Communications -> Notification -> Summary
New applications (Super, Pension and IDPS)
Appropriate paperwork and any applicable supporting information such as certified identification and residency confirmation for the request, must be received by the cut-off date.
Establishing a new pension with the first payment either pre or post 30 June 2025.
*Refer to internal transfers section for account conversions
5pm, Friday 20th June
New application IDPS – Complex structure (SMSF, Unregulated Trusts etc.)
Appropriate paperwork and any applicable supporting information such as certified documentation, must be received by the cut-off date.
5pm, Wednesday 18th June
Amendments (Including pension payment details and Notice of Intents FY23-24)
Amending an account can either be completed via Advisers and their staff self-serving on the platform directly or contact our service centre.
5pm, Wednesday 25th June
Super withdrawals and rollovers
(excluding pension payments)
Appropriate paperwork and any applicable supporting information such as certified identification and residency confirmation for the request, must be received by the cut-off date. The client must have sufficient cash account funds available to allow the payment to be processed.
5pm, Wednesday 25th June
IDPS Withdrawals
Account closure requests must have appropriate paperwork submitted by the cut-off date.
Partial withdrawals are STP, and do not require paperwork. Client consent is required if the withdrawal is to an unlinked bank account.
5pm, Wednesday 25th June
Contributions
Direct credits and BPAY® - we strongly suggest clients plan in advance and instruct their financial institution at least 2-3 days prior to the cut-off date.
Appropriate paperwork for the contribution and any supporting information must also be supplied.
Direct Debit - we strongly suggest clients plan in advance and instruct their financial institution at least 2-3 days prior to the cut-off date.
Appropriate paperwork for the contribution and any supporting information must also be supplied.
Any contribution that bounces will need to be re-processed prior to the cut-off date.
The contribution must appear in our bank account by 5pm, Wednesday 25th June
The contribution must appear in our bank account by 5pm, Tuesday 24th June to allow 2 days for funds to clear.
Superannuation splitting for FY23-24 - to apply for contribution splitting to an eligible spouse.
Contribution splitting – Appropriate paperwork and any applicable supporting information such as certified identification and residency confirmation for the request, must be received by the cut-off date. The client must have sufficient cash account funds available to allow the payment to be processed.
5pm, Wednesday 25th June
Term deposits
Normal cut-off times will apply for all term deposits purchased before 30 June 2025.
12pm, Wednesday 25th June
The above cut-off dates are based on the assumption that all information received by the cut-off dates is complete and accurate.
Managed fund transfers
Transfers must be received in time to allow the relevant registry enough time to complete the transfer.
Appropriate paperwork that meets external party requirements including complete CGT history must be provided before commencement of the transfer.
There is a dependency on the external fund manager or platform processing requirements for the funds to be received by 30 June 2025.
For Super transfers a completed and accurate RBS must be provided by 25 June 2025 to ensure the transfer can be finalised.
If the transfer is not completed by 30 June 2025, the contribution/s will be allocated to the contribution caps for the 2025 financial year.
5pm, Friday 30 May
Share transfers
All transfers received after this date will be sent to our broker, and while we anticipate these should be able to be completed by end of financial year, we are unable to guarantee transfer by 30 June 2024.
Appropriate paperwork that meets external party requirements including complete CGT history must be provided before commencement of the transfer.
There is a dependency on the external party or platform processing requirements for the funds to be received by 30 June 2025.
A completed and accurate RBS must be provided by
26 June 2025 to ensure the transfer can be finalised before 30 June 2025.
If the transfer is not completed by 30 June 2025, the contribution/s will be allocated to the contribution caps for the 2025 financial year.
5pm, Friday 30 May
Internal account transfers - Inter Transfers
- • IDPS to IDPS
IDPS to IDPS transfers are straight through processing once approved by clients, this completed as a digital journey only.
Please note, for all asset transfer requests outlined above, we must receive the instruction to withdraw/rollover and the completed application form by the cut-off date.
5pm, Wednesday 26 June
Internal account transfers
- • Super to pension (full and partial)
- • Pension to super (full and partial)
- • Re-contribution strategy (full and partial)
- • Pension refresh
Please note, for all asset transfer requests outlined above, we must receive the instruction to withdraw/rollover and the completed application form by the cut-off date or appropriate client authorisation.
5pm, Wednesday 18th June
The above 'Transition of assets' cut-off dates are based on the assumption that all transfers have already been actioned by the current holder, seller or trustee (where required) and that all information received by the cut-off dates is complete and accurate. If the client would also like to partake in a corporate action we will be unable to proceed with the transfer until after such time as its completed. We will continue to track current requests in progress with original providers and issue regular follow-ups to ensure every effort is made to complete transfers prior to 30 June 2025.
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This document provides general information for the adviser only and is not to be handed to any investor. This information has been provided by Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 (AIL) and Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (CFSIL). AIL is the trustee of super and pension products. CFSIL is the IDPS operator, administrator and custodian of investor directed portfolio services (IDPS), managed discretionary account (MDA) products and portfolio services and also provides platform administration and reporting services. This document may include general advice but does not consider anyone’s individual objectives, financial situation, needs or tax circumstances. You should read the relevant Product Disclosure Statement (PDS), Investor Directed Portfolio Service Guide (IDPS Guide) and Financial Services Guide (FSG) before making any recommendations to a client. The disclosure documents can be obtained via the platform. This document is based on current requirements and laws as at May 2023. While all care has been taken in preparing the information contained in this document (using reliable and accurate sources), to the extent permitted by law, no one including AIL and/or CFSIL, nor any related parties, their employees or directs accept responsibility for loss suffered by anyone from reliance on this information. Colonial First State (CFS) is Superannuation and Investments HoldCo Pty Limited ABN 64 644 660 882 and its subsidiaries which include AIL and/or CFSIL. CFS is majority owned by an affiliate of Kohlberg Kravis Roberts & Co.L.P. (KKR), with the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (CBA) holding a significant minority interest in HoldCo. The investment performance and the repayment of capital of AIL and/or CFSIL products are not guaranteed.