End of financial
year information
centre - 2020

Important reminders and dates

  • Personal Super Contributions Deduction Notices for the 2018/19 financial year should be sent to us at the earliest opportunity. Notices received after Friday 19 June 2020 will be processed on a best effort basis. You can submit your clients’ notices quickly and easily via AdviserNET. 
  • Ensure the 'gainfully employed' status of members aged 65 to 75 in AdviserNET is updated before any personal or spouse contributions are submitted. We can't accept the contributions if a member's status hasn't been updated. From 1 July 2020, members will need to update their 'gainfully employed' status again for the new financial year.

BPAY Biller Codes

Here’s a list of Biller Codes corresponding to the contribution type your clients wish to make.

You can find their individual BPAY reference numbers on the Accounts details screen via AdviserNET>Accounts>Account enquiry menu (or the Investor Online>Account menu).

Please refer to Asgard’s cut-off dates and BPAY flyers for more information.

 

Contribution type What it means Biller code
Superannuation Guarantee A compulsory super contribution made by an employer from a client’s before-tax pay 66019
Salary Sacrifice A salary sacrifice contribution from a client’s before-tax pay which they have requested their employer to make 66027
Employer A voluntary contribution from a client’s before-tax pay made by their employer 66035
Personal Deducted A super contribution made by a client and for which they intend to claim a personal income tax deduction (the client must meet eligibility conditions and provide a Personal Super Contributions Deduction Notice) 66043
Personal Undeducted A super contribution made by a client 66050
Spouse A super contribution made by a client’s spouse 66068

 

* Some financial institutions may take longer to process your client’s BPAY transaction. Clients should check with their financial institution to confirm their cut-off time and daily transaction limit. In addition Daily BPAY transfer limits are enforced by all financial institutions. Please contact the financial institution for more information as we can’t be responsible for any delays by BPAY or a financial institution, in processing the transaction.

If you’re making a deposit using BPAY, the default fee and investment instructions will be applied to the deposit unless a deposit instruction is submitted via AdviserNET.

® Registered to BPAY Pty Ltd ABN 69 079 137 518
 

Annual Pension Review and Personal Super Contributions Deduction Notices

  • Annual pension review letters and PAYG summaries (if applicable)

Your clients' annual pension review letters include their annual pension amount for the 2020-2021 financial year based on their estimated account balance as at 1 July 2020 and instructions for changing their pension amount and/or frequency. PAYG payment summary and tax offset details may also be included where pension payments contained taxable income.

From 1 July, you can view your clients' pension payment details for the 2020-2021 financial year on the AdviserNET 'Pension details' screen (Accounts>Account enquiry>Pension details). You can quickly and easily make changes to your clients' pension payment details via the AdviserNET 'Change account details' screen (Transacting>Account options>Change account details).

The last date for requesting changes to your clients' pension details (before the first payment is made in the new financial year) is 10 July 2020.  

Clients can also view their new pension payment details on Investor Online

  • Personal Super Contributions Deduction notices 

We send our end of financial year Personal Super Contributions Deduction Notices to clients who made personal contributions to their super account during the 2019-2020 financial year. They include the amount of their personal contributions received during the financial year remaining in their fund, important information (including eligibility criteria) to help them claim a tax deduction and a 'Notice of intent to claim or vary a deduction for personal super contributions' form.

They'll also receive our 'Completing your Notice of intent' flyer, with handy tips to help them complete the form, if required.

You can also print and submit a Notice for your clients via AdviserNET (Transacting > Deposit / contribution > Personal super contributions deduction notice).

Investor Reports

Investor Reports for the period ending 30 June 2020 are scheduled to begin mailing on 27 June.

Where can I (or my clients) find Investor Reports?

  • AdviserNET > Accounts > Account Enquiry > Investor correspondence
  • Investor Online > Account > Investor correspondence

You can also find our ‘How to read your Investor Report ’ flyer on AdviserNET > Products > Select a product > Samples.

Tax Reports

We anticipate mailing our first tranche of Tax Reports in mid-August.

Tax Report Guide

Our 2020 Tax Report Guide, to help you and your clients complete their tax returns can be found here.

Data downloads

Tax data is usually available via our AdviserNET EPI and BGL data download facilities on the Friday of each week a Tax Report tranche is released. 

2020 release schedule

Our estimated release date (Australia Post lodgement) for each tranche will be listed below. Additional tranches will follow until all reports have been released.

 

Tranche

Estimated mailing date

Status

% of total reports released

Tranche 1

12/08/20

   

Tranche 2

26/08/20

   

Tranche 3

16/09/20

 

 

Tranche 4  

01/10/20

   
Tranche 5 14/10/20    

 

Income distributions and tax components tracker – what we have/haven’t received

To produce Tax Reports we rely on the receipt of tax components from the fund manager or share registry of every managed fund or share a client was invested in during the financial year.

The majority of income distributions are reconciled and processed in July. However, some fund managers may not make payments until significantly later and this can delay some clients' distribution payments.

Income distributions and tax components tracker

To help you manage your clients’ queries and expectations, our Income distributions and tax components tracker’ spreadsheet shows you the income distributions and tax components we’ve already received from fund managers and what’s outstanding.

We’ll update the spreadsheet weekly. 

Switch to eStatements for Investor Reports

eStatements are easily-accessed, fast, secure and environmentally-friendly. Clients who select Online as their preference will receive an email when their Investor Report is available on Investor Online. They'll still get other reports, statements and letters by mail.

Clients can register for eStatements:

  • via Investor Online at Accounts > Manage my account > Change account details
  • with your help, via AdviserNET at Transacting > Account options > Change account details > Reporting Preferences screen or during the Account Application process
  • by calling 1800 998 185 - one of our consultants can assist.

Please note, the client will need to update their account with a valid email address.

When your clients change their reporting preference, we'll send you an account action email notification.

Full terms and conditions for eStatements and online communications are available here.

AMIT regime

We expect the majority of managed investment funds will opt in to the Attribution Managed Investment Trust (AMIT) regime in this current financial year. For information relating to the tax consequences for clients who hold investments in these funds, please refer to the Asgard Tax Guide.

Documents

Contact us

More information

 

 

Panorama

FAQs Find answers to commonly asked questions about the lead up to 30 June, Investor Reports, Tax Reports and more.

Privacy Policy

Please refer to the Asgard Privacy Policy.

Disclaimer

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Unless otherwise disclosed in the offer document for the relevant financial product, a financial product or service issued or offered by Asgard is not a deposit with, investment in or other liability of Westpac, nor any other company within the Westpac Group.  They are subject to investment risk, including possible delays in repayment and loss of income and principal invested.  Neither Westpac nor any other company within the Westpac Group has issued, stands behind or otherwise guarantees the capital value or investment performance of any financial product or service issued or offered by Asgard.

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