EOFY 2026 Newsletter – Key EOFY Super Updates
It is almost the end of another financial year and we just wanted to share some items that you might need to consider prior to 30 June 2026.
Action Items
1. Make Your Super Contributions Before 30 June 2026
2. Valuations for Commercial and Special Properties
3. Payday Super Commences from 1 July 2026
4. Division 296 Tax: Review Your Unrealised Capital Losses
5. Scam Alert: Fake Websites Impersonating ASIC
6. Federal Budget Update: CGT and Negative Gearing Changes
Make Your Super Contributions Before 30 June 2026
With 30 June 2026 fast approaching, please ensure any intended super contributions are received by your super fund before 30 June 2026. Simply making the payment on 30 June may not be enough, as the contribution must be received by the fund before year-end.
For the 2026 financial year, the concessional contribution cap is $30,000 and the non-concessional contribution cap is $120,000. Before making any additional contributions, please check your available cap space, particularly if you have already made employer, salary sacrifice, or personal contributions during the year.
If you are unsure how much you can contribute, please contact us before making the payment so we can assist you in reviewing your position.
Valuations for Commercial and Special Properties
As you are aware it is a requirement for SMSF trustees to report their assets at market value in their financial statements every financial year. The ATO has now advised that where the value of a SMSF’s asset remains unchanged from the previous year, the SMSF may have contravened the super rules by not reporting the investment at its correct value. This may cause the auditor to lodge an auditor contravention report if they are not comfortable with the supporting evidence.
In light of the above, the SMSF will need to obtain a valuation for property each and every year. This valuation must include at least 3 recent comparable sales data that are within 12 months time.
Your property agent or regular valuation contact may be able to help you obtain this valuation as of 30 June 2026. If you do not have an existing contact, some options to source this valuation are:
• True Market –https://truemarket.com.au
• Acumentis Property –https://acumentis.com.au
As the valuation process can take time, we request that you obtain a valuation as soon as possible to allow for the efficient and smooth preparation of the 30 June 2026 financial statements and audit for your super fund.
Payday Super Commences from 1 July 2026
As mentioned in our April newsletter, Payday Super will commence from 1 July 2026. From this date, employers will be required to pay employees’ super guarantee contributions at the same time as salary and wages are paid, rather than on a quarterly basis.
Super contributions will generally need to reach the employee’s super fund within 7 business days after payday. If you operate a business and employ staff, we recommend reviewing your payroll and super payment processes now to ensure you are ready for the new requirements from 1 July 2026.
If you receive employer contributions into your SMSF, please ensure your fund’s lodgement is kept up to date. This will help avoid issues with employers or payroll systems verifying the super fund and paying contributions to the fund.
Division 296 Tax: Review Your Unrealised Capital Losses
The proposed Division 296 tax will affect members with total superannuation balances above or approaching $3 million. While the tax itself to be charged to individuals has received significant attention, it is also important to consider the potential impact of the proposed reset mechanism. The proposed reset rule would reduce the capital gains counted for Division 296 purposes by adjusting the cost base of assets that were held before 30 June 2026. This adjustment only applies when working out Division 296 tax — it does not change anything else.
Where a member chooses to undertake a Division 296 reset, the reset is to apply across the entire portfolio, rather than selected assets only. This means that assets with unrealised capital losses may need to be carefully reviewed before year-end, as the future benefit of those losses, towards calculating attributable income, could potentially be lost under the reset.
For affected members, there may be circumstances where crystallising genuine losses before 30 June could be worth considering. This will depend on the member’s overall investment position, tax position and long-term objectives.
If your total super balance is above or approaching $3 million, we recommend reviewing your position with your financial adviser before 30 June to ensure any relevant Division 296 planning matters are properly considered. Please note that a report showing your unrealised capital gains/loss position is available through your Greenlight Online through the reports tab.
Please note there are no elections or lodgements required now if you undertake this process. The election will occur on the lodgement of the 2026 SMSF tax return.
Scam Alert: Fake Websites Impersonating ASIC
ASIC has warned that scammers are creating fake websites that impersonate ASIC and ASIC Connect. These websites may use similar domain names, branding and links to genuine ASIC pages to appear legitimate.
The fake websites are being used to obtain personal information, passwords and payment details, and may also show false company search results for companies that do not exist. Clients should take care when clicking links or entering website addresses, particularly where payment or personal information is requested.
Where we act as your ASIC registered agent, ASIC annual review documents will generally come through our office. If you receive an unexpected ASIC-related email, invoice or payment request directly, please check with us before clicking any links or making payment. When using ASIC online services, please ensure you are visiting the official ASIC websites.
If you believe you have visited a fake ASIC website or provided information to a scammer, please contact your bank and ASIC as soon as possible for further guidance.
Federal Budget Update: CGT and Negative Gearing Changes
The 2026 Federal Budget included proposed changes to capital gains tax and negative gearing. Please note these proposed changes are not expected to apply to investments or assets held within SMSFs.
From 1 July 2027, the Government proposes to replace the 50% CGT discount with an inflation-based discount and introduce a minimum 30% tax on capital gains. Negative gearing will also be limited to new builds, meaning investors who acquire established residential properties after Budget Night will no longer be able to offset rental losses against other income. Instead, these losses would be carried forward to offset future property income, including rental income or capital gains from the property.
These changes are still subject to the legislative process, so we recommend keeping them in mind when considering future investment or property decisions.
If you have any questions in relation to the above, please do not hesitate to contact us.
Greenlight Super Team
T: 6273 1066
3/19 Marcus Clarke St, New Acton, ACT 2601
PO Box 3276 MANUKA ACT 2603
www.greenlightsuper.com.au
