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Supporting your EOFY

Non-resident withholding tax
Pension minimums
Pension recalculations
Personal contributions
Tax reports and elections
Term Allocated Pension

Statements and Reporting Schedule
 

 

Statement type
ProductTarget date

PAYG payment summaries for pension accounts

Pension

July 2024

IDPS annual statements and audit reports

IDPS

By 31 July 2024

Personal contribution summaries

Super

End of July 2024

Tax reports

IDPS

In tranches from end of July to November 2024

Super and Pension annual statements

Super and Pension

In tranches from mid to late September to December 2024

ATO Annual Investment Income Report (AIIR)

Please refer to the ATO website for more information.

IDPS

31 October to end of December 2024

 

For more information please visit Account statements for clients.

EOFY Calendar

Our EOFY calendar shows all key tasks and processing cut-offs in one central location.

View calendar

Our last day of processing for the 2023/24 financial year will be Friday 28 June 2024

EOFY cut-off dates and tasks

View all key tasks for June and their processing cut-offs.

Important notes

Add as a reminder

You can add a calendar reminder to help you keep track of the cut-off dates for EOFY related tasks. 

Download a PDF copy of the calendar

You can download and print a PDF copy of EOFY cut off and processing dates.

Wherever possible, use Request Centre

  • Request Centre allows you to submit and manage requests faster, easier and more securely.
  • Alternatively, please use email to avoid any possible delays with postal delivery.

Submit paperwork as early as possible and ensure it’s completed correctly before uploading it to Request Centre or emailing it to us

  • If you’re able to submit paperwork before the provided cut-off dates, there’ll be a higher chance that we can work with you to resolve any queries and/or confirm if any outstanding information is required before the final cut-off dates.
  • Please ensure that all forms and documents are fully completed and signed by the correct signatories to reduce the risk of any processing delays.

Cut-off dates and tasks

Our last day of processing for the 2023/24 financial year will be Friday 28 June 2024. Wrap tax elections open Thursday 9 May 2024 and Wrap clients have until Friday 5 July 2024 to make their elections. Pension recalculations will occur in the first two weeks of July.

Below are the cut-off dates for all EOFY tasks and requests. The cut-off time on those dates is 5.00pm (Sydney time). We need to receive all necessary documents and information, including consent or approvals, before the cut-off. Any requests that are still incomplete by the cut-off will be processed on a best-efforts basis.

We encourage you to use online methods where available to avoid missing any cut-offs.

DateWhat we need from your client
Monday 3 June

Amend/create a recurring debit

Monday 3 June

Submit a re-contribution form

Tuesday 4 June to Friday 14 June

Pension applications

Friday 7 June

Change a client investor status, including updating to wholesale 

Friday 7 June

Amend a previous contribution

Friday 7 June

Final pension updates for FY23/24

Friday 14 June

Action a product switch

Friday 14 June

Transfers (in and out) for internal asset transfers, Equities and Managed Funds

Friday 14 June

Switches, transfers and closures for Separately Managed Accounts

Friday 14 June

Change of service notification

Wednesday 19 June

Action an account closure

Friday 21 June

Deposits and contributions by cheque

Friday 21 June

Manual fee changes and Advice Fee Consent forms

Friday 21 June

Change of adviser requests

Friday 21 June

Product investment menu conversions

Tuesday 25 June

Ad hoc direct debit requests

Tuesday 25 June

Deposits and contributions (EFT and BPAY) 

Wednesday 26 June

Manual withdrawals

Wednesday 26 June

Super, IDPS and CMA applications

Wednesday 26 June

Contribution splitting

Thursday 27 June

Payment requests through Adviser Online

Thursday 27 June

Deduction notices

 Friday 28 June

Adviser Initiated Payments

 Friday 28 June

Create and update Advice Fee Consent

Wrap tasks

MonthTasks where action may be requiredWho it affects
May to July

Wrap tax elections

Tax elections open on 9 May 2024. You have until 5 July 2024 to make the elections online.

IDPS clients
June

Wrap pension indexation

After the mid-June pension run, you have until Friday 28 June to update pension settings online before the July 2024 pension recalculation.

Pension clients
July

Wrap pension recalculations

Also known as ‘the pension freeze’, in the first two weeks of July we recalculate pensions for the new financial year.
Your clients won't be able to make changes to their pensions or withdraw from pension accounts during this time.

Pension clients

Cash tasks

MonthTasks where action may be requiredWho it affects
June

BPAY deposits, future-dated transactions online, manual withdrawals, applications (online and paper), additional deposits  and online withdrawals have their own cut-off times and dates throughout June.

CMA and Accelerator clients
June

Term deposits
Please note 31 days’ notice provisions apply to any changes prior to agreed maturity. Applications, additional deposits (on maturity), withdrawals (on maturity) and rollover instructions all have their own cut-off times and dates throughout June.

Term deposit clients
Report Builder

Use the EOFY report template in Report Builder

Use the EOFY report template in Report Builder

Create consolidated packs of multiple reports for a single account in one centralised location which can be saved in the future. Each account will also have two preloaded report pack templates for EOFY and quarterly reporting purposes, to simplify the way your business provides reports.

Learn more
Adviser Initiated Payments

Manage payments for your super and pension clients

Manage payments for your super and pension clients

Adviser Online allows you to initiate a payment for your super and pension clients and track the status of the request in Request Centre.

Learn more

Tips and FAQs
 

How can I avoid processing delays for EOFY? 

Check your clients’ 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
  • This is to make sure pension payments can be made in June to satisfy any minimum pension requirements for FY23/24.
Check your super clients’ direct deposit facility
  • To ensure we can receive and process contributions that are paid by funds transfer, please check your clients’ direct deposit facility. If your clients intend 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.

Visit How do I create a payment to a Payee or Biller? for information on how to change your contribution type.

Check if your clients have submitted a deduction notice
  • You can download acknowledgement letters in Adviser Online for your clients who’ve notified us of their intent to claim a tax deduction for their personal super contributions.
  • Adviser Online will be your one-stop-shop for acknowledgement letters, exit statements, PAYG annual statements and partial rollover confirmations for your clients.

Visit View client correspondence for more information.

Ensure your investment clients’ accounts are ready for tax reporting
  • Please check correct cost base information is supplied where assets are being transferred in via in-specie transfer, to ensure accounts are ready for tax reporting. Incorrect or incomplete cost base information can impact the accuracy of reporting. Please supply all relevant cost base information for assets transferred into Wrap accounts.
Check your clients’ future pension payments
  • During the first two weeks of July, we’ll be calculating your clients’ FY24/25 pension. You won’t be able to make changes to your clients’ pensions during this time. It’s important to check their next payment after the recalculation before the payment run to make sure your clients are receiving the appropriate amount.
  • Note: If your client’s fortnightly pension payment is due during ‘the pension freeze’, the pension payment will be processed on time, but the amount will be same as the preceding pension payment. After the pension recalculation takes place, the subsequent fortnightly pension payments will be adjusted according to your client’s pension escalation option for the remaining financial year. We encourage you to review your client’s subsequent pension payment amounts to ensure it meets your expectations.
  • After the pension recalculation takes place, subsequent pension payments may be adjusted according to your client’s chosen pension options for the remaining financial year. We encourage you to review your client’s pension payment amounts to ensure they meet your expectations.
Check that paperwork is completed correctly before uploading it to Request Centre or emailing it to us
  • Please ensure that all forms and documents are fully completed and signed by the correct signatories to reduce the risk of any processing delays.
Make sure you’re using the most up-to-date version of our forms available online
How can we change the contribution type for direct credit?Read the article
How can I check the amount of contributions my client has made? Read the article
Can I rely on ATO pre-fill data when preparing my income tax return, rather than my Wrap Tax Report?Read the article
What are the USI/ABN details of the fund?Read the article
How do I rollover funds from a SMSF into a superannuation/pension account?Read the article
How can I confirm that my client has claimed a tax deduction?Read the article
How can my client request a rollover from an external superannuation fund into Macquarie superannuation?Read the article
How can my client add more funds into their pension account? How often can they do this?Read the article
My client made a mistake when contributing to their accounts. How can we amend it?Read the article
How can my client add funds into their account? (Including contributions and rollovers)Read the article

Useful Technical Advice resources

Macquarie holey dollars

Contribution Cap Companion
People in meeting room chatting over flip chart plan

Year end strategies: technical tips for financial services professionals
Macquarie holey dollars

Non-concessional contribution capacity flowcharts

Boost your super with tax deductible contributions

If you have clients with a Wrap superannuation account who are considering making additional personal contributions, you may find this article helpful.

Learn more

Transition to digital payments only

Between January 2024 and November 2024, we’ll be phasing out our cash and cheque services across all Macquarie banking and wealth management products, including pension and super accounts. Read this Help Centre article to find out how you can prepare.

Learn more

Boost your super with tax deductible contributions

If you have clients with a Wrap superannuation account who are considering making additional personal contributions, you may find this article helpful.

Learn more

Transition to digital payments only

Between January 2024 and November 2024, we’ll be phasing out our cash and cheque services across all Macquarie banking and wealth management products, including pension and super accounts. Read this Help Centre article to find out how you can prepare.

Learn more

Useful links

Sail boats at sunset

Live chat

Live chat enables you to connect with a wealth consultant in real time.

Learn more
 
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Adviser Tools

Forms and product documents at your fingertips

Visit Adviser Tools
 
Three office workers looking at laptop screen

Request Centre

Allows you to submit and manage your requests faster, easier and more securely.

Learn more
 

Contact us

Need help? If you’re an adviser, please contact us via live chat in Adviser Online. If you’re a client, please call

1800 806 310

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Help and support

Visit our Adviser Help Centre and search our adviser FAQs.

Your questions answered

Additional information

This information is provided for the use of licensed and accredited brokers and financial advisers only. In no circumstances is it to be used by a potential client for the purposes of making a decision about a financial product or class of products. This information does not take into account any person’s objectives, financial situation or needs. Before making any financial investment decision or a decision about whether to acquire or continue to hold any products mentioned on this page, a person should obtain and review the offer documents relating to that product and also seek independent financial, legal and taxation advice.

Unless stated otherwise, this information has been prepared by Macquarie Bank Limited ABN 46 008 583 542 AFSL and Australian Credit Licence 237502 (MBL).

Any information on Macquarie Wrap products has been prepared by Macquarie Investment Management Limited ABN 66 002 867 003 AFSL 237492 RSEL L0001281 (MIML). The Macquarie Separately Managed Account is issued by Macquarie Investment Services Limited ABN 73 071 745 401 AFSL 237495 (MISL). In deciding whether to acquire or continue to hold a product, a person should consider the PDS, IDPS Guide, or other relevant offer document(s) available on the Macquarie website. Our Target Market Determinations are available at macquarie.com.au/TMD.

Funds invested on your behalf by MIML, or investments in the SMA other than cash on deposit with MBL, are not deposits with or other liabilities of MBL or any other entity of the Macquarie Group and are subject to investment risk, including possible delays in repayment and loss of income and capital invested. None of MBL, MIML, MISL or any other member of the Macquarie Group guarantees any particular rate of return or the performance of the investments, nor do they guarantee the repayment of capital.

Any information on this page in relation to mortgages has been prepared by Macquarie Securitisation Limited ABN 16 003 297 336 AFSL and Australian Credit Licence 237863 (MSL).