As the end of the financial year approaches, it’s important to start thinking about your superannuation obligations – especially if you’re hoping to claim a tax deduction for those contributions this year.
Timing Matters for Super Payments
To ensure your Super Guarantee (SG) contributions are deductible for the 2024–25 financial year, they need to be received by your employee’s super fund by 30 June 2025. The key word here is received – not just paid. That means the timing of your payment and the clearing house you use both play a critical role.
It’s important to note that the payment is not considered made until the funds actually hit the employee’s super account. So, submitting payment to your clearing house isn’t enough – it needs to be processed and received by the fund in time.
Recommended Cut-Off for Xero Users
While Xero hasn’t yet published their official cut-off date for 2025, we recommend using Friday 13 June 2025 as your safe cut-off. This allows a conservative buffer to ensure your contributions are received before the end of financial year. Xero does advise users to process payments well before 30 June to avoid missing out on tax deductions.
Because we exclusively use Xero, this date is especially relevant for all our clients.
Important Reminder
We’re not providing tax advice, and this information is intended as a general guide only. Every business is different, so we recommend you:
- Speak with your accountant to confirm how your superannuation payments impact your tax position.
- Talk to your financial advisor about strategies to maximise your contributions for the financial year – this is particularly relevant if you’re considering any additional concessional or personal contributions before 30 June.
Don’t Forget Quarterly SG Obligations
Even if your aim isn’t to claim a tax deduction for this financial year, keep in mind that Super Guarantee payments for the April–June quarter are still due by 28 July 2025 to meet your compliance obligations.
Final Word
To avoid stress and ensure you’re in the best position come EOFY, plan ahead and process your super contributions early. Friday 13 June 2025 is our recommended cut-off to play it safe. If you have any questions, our team is here to help you stay on track.
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