Last Minute Contributions - Don't Miss the $50,000 or $100,000 Concessional Caps

Generally, a contribution made by cheque will be treated as being received by the trustee of the super fund on the date the cheque is received.

Consequently, posting a cheque before 30 June 2009 to a super fund, which is received by the fund after 30 June 2009, will mean that the contribution is recorded in the 2009/10 financial year and not the 2008/09 financial year.  Contributions by cheque must be physically received by the trustee on or before 30 June 2009, must be dated on or before 30 June 2009, and must be honoured when presented.

As a general statement a post-dated cheque will be treated as being received by the super fund on whichever date is the later of the date on which the cheque is received by the trustee and the date of the cheque.  Additionally, the trustee must present the cheque within a commercially reasonable time after receipt.