EOFY reporting and processing cut-off times

Reporting and processing cut-off times

With 30 June fast approaching we would like to remind you of key processing cut-off times and annual reporting dates to ensure the best experience for you and your clients during this busy time, and to ensure all transactions are implemented prior to the end of the financial year.


Annual statements, letters and reporting

For a copy of the expected dates that clients are likely to receive their annual statements and letters (including the over 67 work test letter and the s290-170 Notice of Intent to claim or vary a tax deduction), please click here.


Administration processing cut off times for EOFY 2020

Process Details WealthSolutions cut-off WealthFoundations/Traditional products cut-off
New applications (Super, Pension and WealthSolutions Investments) Including establishing a new pension with the first payment either pre or post 30 June 2020. 5pm, Friday 19 June 5pm, Friday 5 June (to make the 15 June pension payment run)
 
5pm, Monday 22 June (to make the 30 June pension payment run – twice monthly payments only)

5pm, Monday 22 June (all other applications)
Pension variations To amend pension payment details which will be included in a client's Pension Annual Review mail out. 5pm, Friday 26 June 5pm, Friday 26 June
Withdrawals (excluding pension payments) Provided that all the required paperwork is received by the cut-off date (such as certified ID, correct bank account details, etc). 5pm, Thursday 25 June

The client must have sufficient funds in their cash account to allow for the payment to be processed.
5pm,  Thursday 25 June
 
Please contact us for any late or urgent requests.
Contributions - cheques Accompanied with correctly completed information. Bank deposit (at your local Commonwealth Bank branch): 5pm, Friday 26 June.
 
Please contact the Customer Care  to ensure you have the correct bank account details.
Hand delivered to Sydney head office:
3pm, Tuesday 30 June.

No direct bank deposits for cheques (please use direct debit or BPay)
Contributions - BPay®, direct credits and SWIFTs We strongly suggest clients plan in advance and instruct their financial institution at least 2-3 business days prior to the cut-off date.
 
Appropriate paperwork for the contribution and any supporting information such as the 'work test' declaration must also be supplied.

® Registered to BPAY Pty Ltd ABN 69 079 137 518

The contribution must appear in our bank account by Friday 26 June

Direct debits and BPAY® only

Requests to be received in our office by Thursday 25 June.
 
The contribution must appear in our bank account by Tuesday 30 June. Please contact us for any late requests.

Superannuation contribution splitting For contribution splitting to an eligible spouse. 5pm, Thursday 25 June 5pm, Thursday 25 June
Term deposits Normal cut-off times will apply for all term deposits purchased before 29 June 2020. 12pm, Tuesday 30 June Not applicable











































Processing cut-off times for WealthSolutions2 can be accessed here.

WealthSolutions specific cut-off times

Transition of assets - WealthSolutions only

Process Details Cut-off date
Property syndicates, managed fund transfers & unlisted investment transfers Transfers must be received by this date to allow the relevant registry enough time to complete the transfer to us by 30 June 2020.
 
Transfers received after 22 May 2020 will still be sent for transfer, although completion by 30 June 2020 cannot be guaranteed.
5pm, Friday 22 May
Share transfers All transfers received after this date will still be sent to our broker, however, we are unable to guarantee transfer by 30 June 2020. 5pm, Friday 12 June
Internal in specie transfers
  • 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 complete application form by the cut-off date.
5pm, Friday 19 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 it's 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 2020.
 

Capital gains/losses reporting 2020 - WealthSolutions only

Process Details Cut-off date
CGT transaction history To ensure tax reporting to your clients for the financial year ended 30 June 2020 is as accurate as possible, only complete CGT transaction history information received by the cut-off date will be entered. 5pm, Monday 22 June

Please note, we cannot guarantee that transactional data received on or after 1 July 2020 will be included in 30 June 2020 reports.

Important information

The above cut off dates and times are based on the assumption that all required information (including rollover monies) has been received, and is complete and accurate.

Please note any requests received post these dates and times will continue to be processed on a best endeavour basis.
 
If you have any questions or would like some further clarification please contact:

WealthSolutions
1800 023 549 or service@clearviewwealthsolutions.com.au

WealthFoundations & Traditional 
132 977 or client.wealth@clearview.com.au