SMSF Year-End Checklist 2026: What Trustees Should Review Before 30 June

The end of the financial year is fast approaching. For SMSF trustees, the weeks before 30 June are an important time to review contributions, pension payments, valuations and records.

A few practical checks now can help protect valuable tax opportunities, reduce audit issues and avoid last-minute compliance problems.

1. Make Sure Contributions Are Received Before 30 June

For SMSF contribution and deduction purposes, the contribution must be received by the fund’s bank account on or before 30 June.

If the money arrives on 1 July, it will not count for the 2025–26 financial year.

Personal Deductible Contributions

If you want to claim a tax deduction for a personal super contribution, make sure you:

• Notify the fund of your intent to claim a deduction
• Receive the fund’s acknowledgement by the required deadline
• Process the notice before starting a pension, if relevant

2. Review Carry-Forward Contribution Opportunities

Members with a total super balance below the relevant threshold may be able to use unused concessional contribution caps from previous financial years.

This may be useful if you have:

• Received higher income this year
• Made a capital gain
• Not used your full concessional cap in earlier years
• Room to make additional deductible contributions

3. Consider Non-Concessional Contributions

Non-concessional contributions are after-tax contributions made into super.

Before making these contributions, review:

• Your total super balance
• The annual non-concessional cap
• Whether bring-forward rules may apply
• Whether you have already triggered a bring-forward arrangement

4. Check Spouse Contribution Opportunities

Spouse contributions may help build retirement savings and may provide a tax offset where eligibility requirements are met.

This strategy may be worth reviewing if one spouse has a lower income or limited super contributions for the year.

5. Review Minimum Pension Payments

If your SMSF is paying an account-based pension, minimum pension payments must be made before 30 June.

Trustees should check:

• The minimum pension amount for each member
• Whether payments have actually been made
• Whether records show the payment date and amount
• Whether any pension documentation needs to be updated

6. Understand Transfer Balance Cap Timing

The general transfer balance cap is expected to increase from $2.0 million to $2.1 million from 1 July 2026.

This may be relevant if you are considering starting a retirement phase pension.

Your personal transfer balance cap may differ if you have already started a pension in previous years. Check your position before making decisions.

7. Update Asset Valuations

SMSFs must report assets at market value.

Before year-end, trustees should review valuations for:

• Property
• Listed investments
• Unlisted holdings
• Related-party assets

Keep evidence to support the valuation method used. This is particularly important for property and related-party arrangements.

8. Prepare Your SMSF for Audit

Good records make the audit process easier and reduce the risk of compliance issues.

Before 30 June, review whether you have:

• Trustee minutes
• Contribution records
• Pension documentation
• Asset valuation evidence
• Lease agreements
• Related-party transaction records

Speak With RJS Before 30 June

Every SMSF is different. The right year-end actions will depend on your fund, contribution history, pension position and investment structure.

If you are unsure whether your SMSF is on track, speak with your RJS accountant before 30 June.