With the end of the financial year approaching, here are the administration processing cut-off dates you need to be aware of.
These cut-off dates require submission of all required supporting information and correct details to ensure completion of client requests prior to 30 June 2024. Any transaction submitted after the cut-off date will be processed as soon as possible but cannot be guaranteed before 30 June 2024.
These client requests include:
new super, 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
CFS Edge
Applications and applicable supporting information such as certified identification and residency confirmation for the request, must be received by the cut-off date.
5pm, Friday 21 June
Establishing a new pension with the first payment either pre or post 30 June 2024.
5pm, Friday 21 June
The self serve amendment of pension payment details for inclusion in the Annual Review mail out.
5pm, Wednesday 26 June
The self serve applicable payments and 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 26 June
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.
The contribution must appear in our bank account by 5pm, Wednesday 26 June
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.
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, Monday 24 June to allow 3 days for funds to clear.
Contribution splitting – to apply for contribution splitting to an eligible spouse.
5pm, Wednesday 26 June
Normal cut-off times will apply for all term deposits purchased before 30 June 2024.
12pm, Wednesday 26 June
The above cut-off dates are based on the assumption that all information received by the cut-off dates is complete and accurate.
Transfers must be received in time to allow the relevant registry enough time to complete the transfer to us by 30 June 2024.
Appropriate supporting information 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 2024.
For Super transfers a completed and accurate RBS must be provided by 26 June 2024 to ensure the transfer can be finalised before 30 June 2024.
If the transfer is not completed by 30 June 2024, the contribution/s will be allocated to the contribution caps for the 2025 financial year.
4-6 weeks before 30 June 2024
5pm, Friday 17-31 May
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 information 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 2024.
A completed and accurate RBS must be provided by
26 June 2024 to ensure the transfer can be finalised before 30 June 2024.
If the transfer is not completed by 30 June 2024, the contribution/s will be allocated to the contribution caps for the 2025 financial year.
4 weeks before 30 June 2024
5pm, Friday 31 May
IDPS to IDPS
Full super to pension
Super to pension (full and partial)
Pension to super (full and partial)
Please note, for all asset transfer requests outlined above, we must receive the instruction to withdraw/rollover and the completed application by the cut-off date.
5pm, Monday 24 June
IDPS to IDPS is approved by customer – digital authorisation only.
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 2024.
FirstWrap
Including establishing a new pension with the first payment either pre or post 30 June 2024.
5pm, Wednesday 26 June
To amend pension payment details for inclusion in the Annual Review mail out.
5pm, Wednesday 26 June
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 26 June
Direct credits, BPAY® and Cheques - with cleared funds to be received 3 business days prior to the cut-off date.
Appropriate paperwork and any supporting information must also be supplied.
Funds must appear and be cleared in our bank account by 5pm, Wednesday 26 June
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, Monday 24 June to allow business 3 days for funds to clear.
Contribution splitting – to apply for contribution splitting to an eligible spouse.
5pm, Wednesday 26 June
Normal cut-off times will apply for all term deposits purchased before 30 June 2024.
12pm, Wednesday 26 June
Transfers must be received by this date to allow the relevant registry enough time to complete the transfer to us by 30 June 2024.
Appropriate paperwork including complete CGT history must be provided before commencement of the transfer.
A completed and accurate RBS must be provided by 26 June to ensure the transfer can be finalised before 30 June 2024.
5pm, Monday 3 June
All transfers received after this date will be sent to our broker, however, we are unable to guarantee transfer by 30 June 2024.
Appropriate paperwork including complete CGT history must be provided before commencement of the transfer.
A completed and accurate RBS must be provided by 26 June to ensure the transfer can be finalised before 30 June 2024.
5pm, Monday 3 June
IDPS to IDPS
IDPS to super
Full super to pension
Super to pension (full and partial)
Pension to super (full and partial)
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, Monday 24 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 2024.
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Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 (AIL) is the trustee of the Avanteos Superannuation Trust ABN 38 876 896 681 and issuer of CFS Edge Super and Pension. Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (CFSIL) is the Investor Directed Portfolio Service (IDPS) operator and custodian of Avanteos Wrap Account Service and issuer of CFS Edge Investments.
This webpage is based on current requirements and laws as at 22 September 2023. While all care has been taken in preparing the information contained in this webpage (using reliable and accurate sources), to the extent permitted by law, no one including AIL and CFSIL, nor any related parties, their employees or directors, accept responsibility for loss suffered by anyone from reliance on this information. This webpage provides general information for the adviser only and is not to be handed to any investor. It 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 PDS, IDPS Guide and FSGs can be obtained from www.cfs.com.au/cfsedge or by calling us on 1300 769 619.