June 18, 2025
Superhero Super’s 7-Step EOFY Checklist
EOFY is around the corner. From voluntary contributions to government co-contributions, here’s how to get your super sorted before 30 June.
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It's that time of the year again. Gather up your documents, check your contributions and call your accountant – the end of FY 2025 is upon us!
Before you clock off for the financial year, we've put together a handy checklist to help you make sure you’re on top of your super.
1. Maximise your super contributions before 30 June
For FY25, you can contribute up to $30,000 in concessional (pre-tax) contributions. This includes your employer's Super Guarantee payments, plus any extra contributions you make through salary sacrifice or by claiming a tax deduction on a personal contribution.¹
These contributions are usually taxed at 15%, which is often lower than your income tax rate, so it can be a tax-effective way to grow your super.
If you're under this year’s cap, you might consider adding more into your super. This can be done by:
- Setting up a salary sacrifice arrangement with your employer, or
- Making an after-tax contribution and claiming a deduction at tax time.
If you wish to claim a tax deduction for your voluntary concessional contributions, please see the ATO page for the form to do this and instructions on how to complete the form.
You can also make after-tax (non-concessional) contributions, up to $120,000 for FY25.¹ Just be mindful of the limits as contributions above the caps could be taxed at a higher rate.
Not sure where you stand? Check your year-to-date contributions and speak with a registered accountant to make sure everything lines up.
Contributions need time to clear before the EOFY deadline, so it’s best to not leave it to the last minute.
2. Check if you have multiple super accounts
If you’ve had a few different jobs, you might have more than one super account. That can mean duplicate fees, multiple insurance policies and less money at retirement.
EOFY is a great time to check where your super is. Log into the Superhero app and under “Profile” you’ll see the “Find Your Super” tab that’ll allow you to search for all your funds.2
It could help reduce fees and make your super easier to manage. Learn more about consolidating your super.
During registration, you’ll have the option to find and transfer your existing super using the ATO’s SuperMatch service.
Already a member? You can access SuperMatch in the Profile section of your Member Portal to search for and, if appropriate, request a transfer of your existing super. You can also roll over your balance via your myGov account if you prefer.
3. Contribute to your spouse’s super and potentially get a tax offset
If your spouse earns less than $40,000 this financial year, you may be able to contribute to their super and claim a tax offset of up to $540.
To receive the full offset, your spouse’s income must be $37,000 or less. You can still receive a partial offset if they earn up to $40,000.
More information on spouse contributions, including eligibility criteria and the offset amount, can be found on the ATO website or with a registered accountant.
4. Are you eligible for the low income super tax offset?
If you earned less than $37,000 this financial year, you may qualify for the Low Income Super Tax Offset (LISTO) payment of up to $500.¹
Make sure your Tax File Number (TFN) is on file with your super fund, as it’s needed to receive the LISTO payment. If you're eligible, the payment of up to $500 will be made automatically.
Not sure if your TFN is registered? Log in to your super account or contact your fund to check.
More information including eligibility can be found on the ATO website or with a registered accountant.
5. How about the Government’s co-contributions?
Low or middle-income earners who make after-tax contributions to their super fund may be eligible for a government co-contribution of up to $500.¹
The ATO automatically works out whether you’re eligible for the co-contribution when you lodge your tax return. If you are, the ATO would pay it directly to your super fund as long as they have your TFN.
6. The option to make downsizer contributions
Members who are 55 years and older may be able to contribute up to $300,000 from proceeds from the sale of a home into their super fund.
A downsizer contribution doesn't count towards the contributions cap however it does count towards the transfer balance cap.¹
Making a downsizer contribution is one way to boost your super balance.
7. Boost your deposit for your first home
The First Home Super Saver Scheme (FHSSS) generally allows you to withdraw up to $50,000 of your eligible contributions from your super to use for a house deposit.
The FHSSS works per individual... which means a couple may withdraw up to $100,000 of contributions for their first home.
You can only count up to $15,000 of eligible voluntary contributions from each financial year toward the $50,000 FHSSS limit. So if you’re planning to buy your first home soon and want to make use of the FHSSS, make sure your contribution is made before the EOFY cut-off.
It’s worth noting the $50,000 may be subject to conditions and taxes. More information including eligibility can be found on the ATO website or with a registered accountant.
¹ Eligibility Criteria apply. Learn more on the ATO's website or with a registered accountant.
2 Consider the effect that switching superannuation funds may have on your insurance, tax and other related benefits. It is important to thoroughly review and understand the potential impact on your insurance coverage, fees, investment options, and other benefits before making any changes. Transferring the entire balance of your super account to Superhero Super will mean that your old account will be automatically closed.
This article reflects information accurate as of 27 May 2025. For latest information or calculations, including eligibility criteria, refer to the ATO website or consult with a registered accountant.
This information has been prepared by Superhero Super Pty Ltd (ABN 40 667 649 854), a Corporate Authorised Representative (CAR 1306018) of Superhero Securities Limited (ABN 96 160 456 315) (AFSL 430150), and the Promoter of Superhero Super,
a sub-plan of OneSuper (ABN 43 905 581 638), issued by Diversa Trustees Limited (ABN 49 006 421 638, AFSL 235153) as Trustee of OneSuper.
Before making a decision on Superhero Super, please read the relevant Product Disclosure Statements (PDS) and Target Market Determinations, found at superhero.com.au/support/documents.
Superhero Super does not provide financial advice that considers your personal objectives, financial situation or particular needs. All investments carry risk so please consider carefully before investing. Past performance is not indicative of future performance. Graphics, charts and graphs provided for illustrative purposes only.
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