EOFY support

Key processing dates

So that we can process your contributions on time, you should forward your contributions at least one week before the end of financial year deadline (1 July, 2021). See here for the EOFY banking and EOFY Administration processes cut-off times for 2021.

Forms

Here are some useful forms to assist you for the EOFY and make things a little easier.

To obtain a Notice of intent (s290) form to claim a tax deduction for your personal superannuation contributions please visit the ATO website. Completed forms can be returned to North by email or post. North will automatically send these forms to you in the new tax year if you have previously made personal contributions.                 

FAQs

 

Contributions and deposits

You can lodge your intent to claim on North Online and then send through either the prepopulated form accessible from North Online, or complete the standard S290 from the ATO. We need to receive and process the form by 30 June.   

It helps to make the contribution as early as possible before the fund’s cut-off date. If you’re expecting an employer contribution you may need to allow extra time as some employers use clearing houses that need two weeks’ notice.

Check North Online for a list of deposits.

EFT and BPAY contribution details can be found at the bottom of the Snapshot page of your super account in North Online. It can take up to five business days to process the funds, so you should allow enough time.

Read the "How to make a large contribution/deposit into your account" guide in Support > Training Guides at North Online. 

If you’re over 67, a work test is required by legislation for the financial year before we can accept non-concessional contributions such as personal and spouse contributions, unless you can provide an exemption.    

We can’t back date deposits. If we receive a payment before 30 June, but can’t process it until after 1 July , we’ll use the date received.            

 

Tax reporting

Daily.

North only reports personal and concessional employer contributions to the ATO, not intent to claim forms. When you lodge your tax return with notice of intent to claim, the ATO will match up the tax retained by the fund with eligible personal contributions for the financial year.

North tax statements generally start being sent out towards the end of August through to the end of September.

PAYG statements are reported directly to the ATO and will be in MyGov when you do your tax return. PAYG is only reported if tax has been deducted from any payments you’ve received.

COVID financial hardship payments through MyGov were exempt from tax. In any case, we report tax directly to ATO, so no tax statement would have been generated. 

North only reports personal and concessional employer contributions to the ATO, not intent to claim forms. When you lodge your tax return with notice of intent to claim, the ATO will match up the tax retained by the fund with eligible personal contributions for the financial year.          

 

Pensions

If a minimum pension has not been paid before 30 June, the system will process a top-up payment.

Pension accounts opened in June are not required to pay out the minimum amount. Any accounts opened before June will be subject to a pro-rata minimum, based on the number of days open this financial year.

 

Dividends and distributions

It’s common for distributions to be paid during this period, which will affect your unit price. You should see your account balance increase again once distributions are received. 

Expected payment dates for distributions are indicative only and do not account for the time it will take to calculate and distribute to individual accounts.

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1800 667 841

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Important information

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© NMMT Limited. Consider the MyNorth Super and Pension product disclosure statement and the MyNorth Investment investor directed portfolio services guide and your circumstances before deciding what’s right for you. Our Financial Services Guide has information about our services, relationships and how we are paid. Contact us on 1800 667 841 for a copy. The issuer of MyNorth Super and Pension is N.M. Superannuation Pty Limited and the issuer of MyNorth Investment is NMMT Limited. The issuer of the MyNorth Investment Guarantee is National Mutual Funds Management Limited.