Members wishing to maximise their contributions into super for the 2015 financial year should be aware of the ATO’s position as to when a cash contribution is ‘received’. Their current stance is that a contribution is only received when the cash hits the fund’s bank account.

Though a member may initiate payment prior to 30 June, any delays due to electronic transfers, BPay, cheque clearance etc are not taken into account by the ATO.

So, be sure to allow sufficient time for your contribution to appear on your super fund’s bank statement prior to, or on 30 June 2015.

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