How to Maximise Your Super Before 30 June

How to Maximise Your Super Before 30 June

ByRob Laurie

If you’re looking to get the most out of your superannuation and avoid any tax traps, there’s no better time to act than in the lead-up to 30 June. Making the right super contributions now can boost your retirement savings and save you money.

Here at Wealth Factory, we help Australians simplify their financial future. In this article, we’ve broken down the key strategies and reminders to help you maximise your super in time for the end of the financial year.

1. Know Your Contribution Caps

The government sets annual limits for how much you can contribute to super. There are two main types of contributions:

  • Concessional contributions (CCs) – before-tax contributions, like employer super and salary sacrifice. The cap is now $30,000 per year.

  • Non-concessional contributions (NCCs) – after-tax money you contribute. The cap is now $120,000 per year, or up to $360,000 if you use the bring-forward rule.

Tip: If you’ve made large contributions in the past few years, it’s vital to check if you’ve already triggered the bring-forward rule. You can do this through your myGov account linked to the ATO.

2. Use the Carry-Forward Rule (if Eligible)

If you haven’t used your full concessional cap in the last five years, you may be able to “carry forward” unused amounts – but only if your total super balance is under $500,000 at 30 June last year.

This can be a powerful strategy to catch up on contributions, reduce tax, and grow your super.

3. Confirm Your Super Fund’s Cut-Off Dates

Not all super funds accept contributions right up until 30 June. In fact, many have earlier cut-off dates.

Action step: Contact your fund or check their website to confirm their processing deadlines, especially if you’re planning to make a personal contribution.

4. Make Sure Contributions Clear in Time

Whether it’s an employer contribution or a personal one, it needs to hit your super fund’s account before 30 June to count for this financial year.

Even bank transfer delays can cause headaches, so don’t leave it to the last minute.

5. Review Your Eligibility to Contribute

Some contributions depend on your age and super balance. For example:

  • If you’re under 75, you can generally make personal contributions without needing to meet a work test.

  • If your total super balance is $1.9 million or more, you may no longer be able to make non-concessional contributions.

Not sure where you stand? Talk to us – we’ll help you make sense of it.

6. Consider a Re-Contribution Strategy

If you’re nearing retirement or thinking about estate planning, withdrawing money from your super and putting it back in as a non-concessional contribution can reduce the taxable component. This can be a smart move to reduce tax for your adult children when they eventually inherit your super.

It’s a more advanced strategy, but it can make a big difference for your family’s future.

7. Start Planning for the $2 Million Cap Change (1 July 2025)

From 1 July 2025, the transfer balance cap (TBC) – which limits how much you can move into a tax-free retirement pension – will increase from $1.9 million to $2 million.

This means that if you haven’t yet started a retirement income stream (like an account-based pension), it may be worth waiting until after 1 July 2025 to access a higher cap.

Final Thoughts

Superannuation is one of the most tax-effective ways to build wealth for retirement – but it can be complex. With contribution caps, eligibility rules, and timing all playing a part, it pays to have a strategy.

At Wealth Factory, we specialise in superannuation and retirement planning for people who want clear, personalised advice – not just a product pitch.

Let us help you:

  •  Maximise your contributions
  • Reduce your tax
  • Plan a better retirement
  • Book a free 15-minute consultation to get started – no jargon, no pressure, just practical advice.

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