The EOFY HUB


We’re here to help ensure that every EOFY is as seamless as possible for you. The EOFY hub has everything you’ll need to prepare for this EOFY, including key processing dates, tips and other helpful information.

Finding a financial adviser

We strongly recommend having a financial adviser linked to your Wrap account. 

They can help you manage your account and achieve your financial goals. If you already have an adviser, we encourage you to link them to your wrap account. 

EOFY cut-off dates and tasks

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

Important notes

Add a reminder

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

Wherever possible, use digital methods to action requests or payments

  • Please use email to avoid any possible delays with postal delivery..

Submit paperwork as early as possible and completed correctly before 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. 

Remember

During the first two weeks of July, we’ll be calculating your FY23/24 pensions. You won’t be able to make changes to your pension during this time. 

Cut-off dates and tasks

Our last day of processing for the 2022/23 financial year will be on Friday 30 June 2023. Pension recalculations will occur in the first two weeks of July.

Please familiarise yourself with our EOFY cut-off dates and the related tasks, which are summarised below.

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

Below you can find 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 consents or approvals, before the cut-off date. Any requests that are still incomplete by the cut-off time and date will be processed on a best-efforts basis.

Final Date to submit What we need from you:
Friday 2 June

Amend a previous contribution

Monday 5 June

Amend/create a recurring Debit

Monday 5 June

Re-contribution form

Tuesday 6 June to Friday 16 June

Pension applications

Friday 9 June

Pension updates

Friday 16 June

Action a product switch

Friday 16 June

Transfers (In and Out) for internal asset transfers, Equities and Managed Funds

Friday 16 June

Switches, transfers and closures for Separately Managed Accounts

Wednesday 21 June

Action an account closure

Friday 23 June

Deposits and Contributions by Cheque

Tuesday 27 June

Ad Hoc Direct Debit Requests

Tuesday 27 June

Deposits and Contributions (EFT and BPAY)

Wednesday 28 June

Manual withdrawals

Wednesday 28 June

Contribution splitting

Thursday 29 June

Deduction notices

Wrap tasks

Month Tasks where action may be required Who it affects
June

Wrap pension indexation

You have until Friday 30 June to ensure the pension settings are correct online before the July 2023 pension recalculation. You can do this after the mid-June pension run occurs.

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.
You won't be able to make changes to your pensions or withdraw from pension accounts during this time.

Pension clients

End of temporary reduction in minimum pension withdrawals

As part of their response to COVID-19, the federal government announced a 50% reduction to the annual pension minimum requirements for the 19/20, 20/21, 21/22 and 22/23 financial years. 

This temporary reduction in pension drawdown rates has ended and from FY23/24 the standard annual pension minimum rates will apply when calculating your pension payments 

Tips to avoid processing delays

Check your available cash

  • Before submitting withdrawal or rollover requests, check the available cash to avoid any processing delays.

Ensure sufficient cash is available in your pension account

  • This is to make sure pension payments can be made in June to satisfy any minimum pension requirements for the FY22/23. 

Check your super direct deposit facility

  • To ensure we can receive and process contributions that are paid by funds transfer, please check your direct deposit facility. If you intend to make a contribution via EFT to your 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 on 1800 893 141, 8am to 7pm (Sydney time) Monday to Friday. 

If you have an investment account, ensure your account is 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. Check you can supply all relevant cost base information for assets transferred into Wrap accounts. 

Submit paperwork as early as possible

  • 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.

Check that paperwork is completed correctly 

  • Please ensure that all forms and documents are fully completed and signed by the correct signatories to reduce the risk of any processing delays.