SMSF year-end checklist: What to do before 30 June 2026
SMSF Year-End Checklist
What to do before 30 June 2026
The financial year end is fast approaching. For SMSF members and trustees, a few critical checks now will protect valuable tax and contribution opportunities—and save you headaches later.
Priority 1
Contributions in by 30 June
Priority 2
Contribution strategies
Priority 3
Minimum pension payments
Priority 4
Transfer balance cap timing
Priority 5
Valuations & audit readiness
Get contributions in by 30 June
The rule is simple: cash and electronic transfers must be received by your SMSF's bank account on or before 30 June.
This applies to both tax deductibility and contribution cap purposes. If the money arrives on 1 July, it doesn't count for 2025–26.
Plan for bank processing time
If you're transferring between different banks, allow extra days for processing. Don't wait until 29 June—do it now.
Personal deductible contributions
If you want to claim a tax deduction for a personal contribution:
- Notify the fund of your intent to claim a deduction
- Receive the fund's acknowledgement by the required deadline (usually before the earlier of lodging your tax return or 30 June the following year)
Important timing: If you're starting a pension early in the new financial year and you want to claim a deduction for a contribution made now, you need to process your notice of intent before you start the pension. Miss this, and you lose the deduction opportunity.
Maximise contributions using carry-forward and strategies
Not all contribution opportunities are equal. Here are the levers you can pull.
Carry-forward concessional contributions
Who's eligible
Members with a total super balance below $500,000 at 30 June of the prior year.
Current year cap
$30,000 (rising to $32,500 from 1 July 2026)
What it does
Access unused amounts from prior years to make larger deductible contributions now.
When to use it: If you've had a larger capital gain in your personal name this financial year, this might be the year to make a bigger concessional contribution and offset some of that gain tax-effectively.
Check your carry-forward balance. The ATO website shows unused amounts. If you have room, use it this year—the opportunity doesn't roll forward indefinitely.
SMSF 28-day allocation rule (contribution reserving)
What it is
SMSFs can temporarily hold a June contribution in an unallocated reserve and allocate it to a member in July, so it counts toward the following year's contribution caps.
How to use it
Contribute in June, document the contribution in your fund's minutes, and allocate it in July—but only if your fund's deed allows it.
Why it matters
Claim a larger tax deduction this year while managing next year's cap position.
Critical: This must be documented correctly in your minutes and be permitted by your fund's deed. Get this wrong and the contribution may not be valid. Check with your SMSF adviser or accountant before relying on it.
Non-concessional contributions and bring-forward
Current cap
$120,000
rising to $130,000 from 1 July 2026
Bring-forward rule
Up to $360,000
over three years if balance was below $500K at 30 June 2025
Check your position: Your total super balance at 30 June 2025 determines your eligibility. If you're close to the threshold, run the numbers—you might be able to frontload contributions now.
Spouse contributions
The benefit
Tax offset of up to 18% on contributions up to $3,000 to your spouse's super.
Who benefits most
Higher-income earners supporting lower-income spouses. If your spouse has low or no income, spouse contributions can be tax-effective.
Government co-contribution
Low-income members may also qualify for a government co-contribution on post-tax contributions if they meet the income test.
Review and pay minimum pension amounts
If your fund is paying account-based pensions, the annual minimum pension must be paid by 30 June 2026.
Failing to meet this requirement creates administrative complications and risks loss of tax concessions.
What counts as a minimum pension?
- Account-based pensions have specified minimum amounts based on your age
- Other pension types (allocated pensions, market-linked pensions) have different minimum or set amounts
- Some pensions have maximum limits that must not be exceeded
What you need to check
- Has the minimum pension been paid for each member for 2025–26?
- Do you have documentation showing the date and amount of each minimum payment?
- For members approaching or in the early pension years, confirm the amount is correct
Getting this wrong can trigger ATO compliance action and create headaches for future years.
Understand transfer balance cap changes — pension timing matters
The general transfer balance cap (the amount you can move into tax-free pensions) is increasing from $2.0 million to $2.1 million from 1 July 2026.
Start pension before 1 July 2026
$2.0M
Your cap is $2.0 million
Start pension after 1 July 2026
$2.1M
Your cap is $2.1 million
The difference is real. If you're moving $2.05 million into a pension, the timing determines whether you trigger excess transfer balance cap consequences.
Important caveat
Not everyone has access to the general transfer balance cap. Your personal transfer balance cap may be lower if you've already moved amounts into pensions in previous years. Check your cap position with your accountant or SMSF adviser before making pension decisions.
Valuations, records and audit readiness
The ATO expects SMSFs to be audit-ready. This means:
Asset valuations
Get all assets valued at market value as at 30 June (or as close as possible).
- Property: Use a professional valuation or market evidence. Keep the supporting documentation
- Related-party assets: These get scrutiny. Make sure valuations are defensible
- Unlisted holdings: Document your valuation methodology and keep evidence of the value used
- Shares and listed investments: Use the closing market price at 30 June
Keep all valuation evidence. The ATO will ask about it if your fund is audited.
Related-party arrangements
- Leases with related parties: Are they documented? Are the terms and rental rates commercially reasonable?
- Services or loans: Is there a written agreement? Are payments at arm's length?
Related-party transactions are common in SMSFs, but they need to be properly documented and commercially defensible.
Pension paperwork and trustee minutes
- Pension commencements: Supported by signed documents and trustee minutes
- Commutations: Documented with proper trustee authority
- Lump sum payments: Recorded in minutes with the correct date and amount
Sloppy documentation here creates compliance risk and can derail pension benefits if something goes wrong.
Note for planning ahead
Changes to contribution caps from 1 July 2026
Concessional contributions
$32,500
up from $30,000
Non-concessional contributions
$130,000
up from $120,000
These are modest increases, but they create planning opportunities if you've been running at the old caps.
Your action plan
What to do this week and before 30 June
Immediate actions
Check carry-forward balance – Log into the ATO website and see if you have unused concessional contribution room. If you do, decide whether to use it this year.
Confirm contribution deadline – If you're making a contribution, ensure it arrives by 30 June. Check with your bank on processing times.
Verify minimum pension payments – If you're in pension phase, confirm that the minimum pension for each member has been paid.
Review pension start timing – If you're considering starting a pension in June or July, understand how the timing affects your transfer balance cap.
Check your valuations – Ensure all assets are valued at market as at 30 June, with supporting documentation retained.
Confirm related-party arrangements are documented – Leases, loans, services—make sure they're in writing and commercially defensible.
Before 30 June
Get contributions processed – Don't leave it to the last day
Allocate any reserved contributions – If using the 28-day rule, document this in your minutes
Ensure pension payments are paid – Minimum amounts must be received by 30 June
Finalise valuations – Complete any outstanding asset valuations
Prepare for audit – Gather all documents (minutes, valuation evidence, related-party agreements, pension commencement documents)
Questions to ask yourself
- Have I maximised my contribution opportunities?
- Is my pension in the right structure and on the right track?
- Are my valuations defensible?
- Is my SMSF documentation audit-ready?
If you're unsure on any of these points, don't guess. A few hours with your SMSF accountant or adviser now will clarify your position, protect your fund and save time at tax time.
Talk to Modoras
Year-end SMSF check-up
before 30 June.
We can help you review your SMSF position, run contribution strategies and ensure you're audit-ready. If you'd like a year-end SMSF check-up, get in touch or book a review before 30 June so we can maximise opportunities and address any compliance gaps.
Book a review