Countdown to 30 June Get set for the end of financial year. Our guide to processing cut-off times.

Transcription

1 Macquarie SuperOptions and ADF Super 1 of 5 Countdown to 30 June Get set for the end of financial year. Our guide to processing cut-off times. MACQUARIE SUPEROPTIONS AND ADF SUPER We want you to feel confident that your business is ready for the new financial year. This guide provides detailed information about: cut-off dates for all EOFY tasks deposits and contributions direct debit direct deposits BPAY rollover cheque deposits office addresses. Please note: The last day of processing requests for the 2017/18 financial year is Friday 29 June 2018, so please complete all tasks for your clients before then or your request will fall into the next financial year. Cut-off date tips Always meet the key cut-off dates These are provided to ensure enough time is available for our team to process your clients requests. Keep an eye on the calendar Download our handy EOFY calendar from the 30 June toolkit website as a quick reference guide for all upcoming deadlines. Submit account paperwork as early as possible If you are able to submit paperwork before the provided cut-off dates, there will be a greater chance that we can work with you to resolve any unexpected issues before the final cut-off dates. Check all paperwork before sending to us Ensure that all forms and documents are fully completed and signed by the correct signatories to reduce the risk of any delays in processing. Contact us if in doubt A large percentage of follow-ups are caused by incomplete forms. If you are unsure of the requirements for a document, please call us on Remember! During the first week of July we ll be calculating your clients 2018/2019 pension. You won t be able to make changes to your clients pensions during this time. macquarie.com

2 Macquarie SuperOptions and ADF Super 2 of 5 Cut-off time (AEST) and date for Saturday 30 June 2018 processing EOFY task SuperOptions Cut-off time (AEST) Cut-off date Additional information Direct Debit request 5pm 1 June Regular direct debit requests are run once a month on or around 8th day of each month. Monthly pension run changes 12pm 8 June Final pension payment for the 2017/18 FY. Bank transfer withdrawals 11am 15 June Where funds must be received by an external bank account before Saturday 30 June Cheque withdrawals 11am 29 June If required to be mailed by Friday 29 June Closure requests 11am 15 June Fee and adviser changes 5pm 22 June BPAY submit instruction 5pm 22 June Dependant on the cut-off times of the transferring bank, Direct deposit contribution (EFT) submit instructions Cheque contributions 11am 29 June Deduction notices for personal contributions made ADF Super Fund 5pm 22 June Dependant on the cut-off times of the transferring bank, Note: real-time gross settlement payments are not accepted into Super accounts through direct deposits. 11am 29 June For personal contributions made in the 2017/18 FY. Direct Debit request 5pm 1 June For a run date on Monday 4 June Monthly pension run changes 12pm 8 June Final pension payment for the 2017/18 FY. Withdrawal cheque requests 11am 22 June Bank withdrawal requests 11am 22 June Fee and adviser changes 5pm 22 June BPAY submit instruction contribution 5pm 22 June Dependant on the cut-off times of the transferring bank, Direct deposit contribution (EFT) submit instructions 5pm 22 June Dependant on the cut-off times of the transferring bank, Note: real-time gross settlement payments are not accepted into Super accounts through direct deposit. Deduction notices for personal contributions 11am 29 June For personal contributions made in the 2017/18 FY. Cheque contributions 11am 29 June

3 Macquarie SuperOptions and ADF Super 3 of 5 Deposits and contributions There are a number of ways your clients may want to add funds to their Macquarie accounts in the lead up to Saturday 30 June Please see below for a summary of deposit and contribution types and instructions on how to complete each type. Transferring funds between banks to and from (excluding BPAY ) Bank-to-bank transfers normally reach clients accounts the following working day. Bank transfers (excluding BPAY ) to building societies and credit unions may take up to 48 hours. Clearance time on cheque deposits is three working days. Knowing the contribution caps It is important to be mindful of contribution limits when making contributions, as clients may incur significant tax penalties if they exceed the limits. For further information, please refer to the Australian Taxation Office website. Undertaking a re-contribution strategy Allow enough time for withdrawal processing and cheque clearance (if required) to meet the lodgement deadline. Remember that withdrawals must leave the super fund and be received by clients at least one day (or more if a cheque has been requested) before the subsequent contribution can be returned to us and processed. Claiming deductions for contributions For personal contributions made in the 2016/17 financial year, the deadline for submitting deduction notices (for clients who haven t yet lodged their 2016/17 tax returns) is 11am Friday 29 June Valid deduction notices received after this cut-off time may only be processed and acknowledged in the new financial year. Deposit and contributions requirements Transaction type What is required? Sending funds to clients accounts Direct deposits SuperOptions direct deposit facility form ADF direct deposit facility form Clients who have the direct deposit facility set up on their account can electronically transfer funds to their Macquarie superannuation account via their financial institution s telephone or internet banking services, using their BSB and account number. Direct deposits take up to two business days to be deposited into your clients accounts. Please allow for this. BPAY No paperwork is required To process BPAY contributions before Friday 29 June 2018, we must receive them no later than 5pm Tuesday 26 June Any payments received after this time may only be processed in the new financial year. Rollover (non-) Cheque SuperOptions rollover authority form ADF rollover authority form Some financial institutions can take more than two business days to process BPAY transactions. Please consider this when making last minute deposits or contributions. All BPAY personal contributions will be processed as non-concessional contributions. If your client wishes to claim a tax deduction for these contributions, they need to complete a deduction notice for personal contributions. Please refer below for the details of our product BPAY biller codes. Your clients 10 digit Customer Reference Numbers (CRN) can be found on their statements, or are available from us by calling Contribution type Macquarie ADF Superannuation Fund Personal Contribution Spouse Contribution Macquarie SuperOptions Personal Contribution Spouse Contribution BPAY biller codes See Office addresses section of this guide for Macquarie office locations.

4 Macquarie SuperOptions and ADF Super 4 of 5 Transaction type What is required? Sending funds to clients accounts Rollovers Contributions Cheque deposits Direct debit SuperOptions rollover authority form ADF rollover authority form No paperwork required SuperOptions: SuperOptions additional investment form ADF Super Fund: ADF additional investment form Regular investment plan (direct debit request) form for SuperOptions or ADF Super Fund APRA-regulated superannuation funds are required to send rollovers via. The transferring fund will require the client s account details (account number and product) and the following fund details to send rollover information and payments via : Unique Superannuation Identifier (USI) and superannuation product name Australian Business Number (ABN) Electronic Service Address. The USI and ABN for our funds are provided below and the electronic service address is obtained by the transferring fund through the Australian Taxation Office s fund validation service. Macquarie Super Options Super ABN USI: Macquarie ADF Super/Rollover Plan ABN USI: A client s employer may be required to send contributions through. The employer or their service providers will require the client s account details (account number and product) and the following fund information to send contribution information and payments via Superstream: Unique Superannuation Identifier (USI) and superannuation product name Australian Business Number (ABN) Electronic Service Address. The USI and ABN for our funds are provided below and the electronic service address is obtained by the employer or their service provider through the Australian Taxation Office s fund validation service. Macquarie Super Options Super ABN USI: Macquarie ADF Super/Rollover Plan ABN USI: Cheques into your clients super or pension accounts should be made payable as follows: SuperOptions: MLL SuperOptions (full account name) ADF Superannuation Fund: MIML ADF (full account name) The cheque payee must include the client s account name to ensure same day processing. The postal addresses for cheque deposits are listed in the Office addresses section of this guide. The direct debit request form authorises us to automatically debit funds on a specific day of the month from an account in the same name with another financial institution and credit contributions to your clients accounts. We must receive the completed form by Thursday 31 May 2018 to ensure transactions are complete before the end of financial year.

5 Macquarie SuperOptions and ADF Super 5 of 5 Office addresses Opening hours Monday to Friday 8am to 5pm local time The below table summarises addresses to use when depositing cheques into Macquarie accounts across Australia. Please ensure any relevant paperwork and client information is included with the cheque to ensure that the funds are deposited as quickly as possible. State Street address Postal address New South Wales Victoria Queensland South Australia Western Australia 1 Shelley Street Sydney NSW 2000 Level 24, 101 Collins Street Melbourne VIC 3000 Level 16A, 345 Queen Street Brisbane QLD 4000 Level 2, 151 Pirie Street Adelaide SA 5000 Level 3, 235 St George s Terrace Perth WA 6000 GPO Box 4045 Sydney NSW 2001 GPO Box 5435CC Melbourne VIC 3001 GPO Box 1459 Brisbane QLD 4001 GPO Box 2632 Adelaide SA 5001 PO Box 7306 Cloisters Square Perth WA 6850 To contact Macquarie, call , visit macquarie.com.au, wrapsolutions@macquarie.com or send mail to Macquarie Investment Management Limited GPO Box 4045 Sydney NSW 2001 Recommended lodgement times are Sydney time (AEST). Times are indicative to provide sufficient timing before EOFY, however depending on documentation provided and individual circumstances these may vary. SuperOptions and ADF Super Fund closed to new applications effective 1 June Macquarie SuperOptions is one of several trusts within the superannuation fund known as the Macquarie Superannuation Plan (RSE R ). Macquarie ADF Superannuation Fund RSE R is a superannuation fund established by way of a trust deed. The Trustee for Macquarie SuperOptions and the Macquarie ADF Superannuation Fund is Macquarie Investment Management Limited ABN AFSL RSEL L (MIML, Macquarie, the Trustee, we, us). Investments in Macquarie SuperOptions and the Macquarie ADF Superannuation Fund (the Funds) are not deposits with or other liabilities of MBL or of any Macquarie Group company, and are subject to investment risk, including possible delays in repayment and loss of income or principal invested. Neither MBL, MIML nor any other member company of the Macquarie Group guarantees the performance of the Funds or the repayment of capital from the Funds. This information has been prepared by MIML for the use of licensed financial advisers only. In no circumstances is it to be used by a potential client for the purposes of making a decision about a financial product or class of products. MW440 05/18