We believe it’s important to help you prepare for your best financial future. Here are some short videos by Bryan Ashenden, BT’s Head of Financial Literacy and Advocacy, with thoughts on the options you could consider for the end of financial year as you prepare for tax time and plan for the year to come.
In this video, Bryan shares five tips around issues you may want to consider in the lead up to 30 June.
In this video, learn about the option of using additional post tax contributions to boost your super savings.
In this video, discover the option of using additional pre-tax contributions to boost your super.
In this video, understand what you should consider regarding personal insurances as circumstances change throughout your life.
Be better prepared for 30 June with our End of Financial Year checklist and maximise your tax time benefits.
Learn how to make additional contributions to your Panorama Investments and Panorama Super account.
Learn important dates for statements and answers to other frequently asked questions.
With the end of financial year fast approaching, there are a few things you need to be aware of relating to your pension payments.
Pension payments are funded by the available cash in your BT Panorama transaction account. If there’s insufficient cash to cover your pension payment, we’ll make up the shortfall by selling down a proportion of your investments.
If we need to sell some of your investments to cover your pension payment, the process can take longer in July.
During the EOFY period, there can be delays in the striking of unit prices, in distribution and dividend payments, and in asset redemptions, which can impact your cash balance.
The combination of these factors can cause pension payments to be delayed.
We recommend you check the amount of available cash in your transaction account, to ensure it can cover your July pension payment. To check, log into your BT Panorama account.
If you don’t have sufficient funds, you should consider selling down investments to generate the required cash.
At the start of each financial year, the annual pension calculation takes place. This is generally completed by 10 July. The balance of the member’s account on 1 July is reported and a freeze is placed on processing annual pension payments. During this period, one-off pension payments and/or lump sum withdrawals cannot be made via the Panorama website. One-off pension Payments can be processed manually by contacting our Customer Relations team.
Please be aware that during the freeze period, processes such as account closures, rollovers out, pension resets, change of phase and transfers between Panorama accounts are unable to be processed.
You can discuss this information further with your adviser (if you have one) or email us at support@panorama.com.au or phone 1300 881 716 from 8:30am to 6:30pm (Sydney time) Monday to Friday.
From 1 July to 4 July 2024, some processes cannot be completed for accumulation accounts, this includes account closures, change of phase and transfers between Panorama accounts.
For transactions to be reflected within the FY 2024 year end statements, we must receive the valid request and all required supporting documentation before the cut-off times shown in the tables on this page. The cut-off times are Australian Eastern Standard Time (AEST) and need to be adjusted if you are operating in a different time zone.
| Transaction |
Action required |
Cut-off time and date (AEST) |
BPAY® contributions |
Payment submitted from the contributing bank account | We must receive the payment by 5pm Tuesday 25 June 2024. |
| Direct credit contributions | Payment submitted using direct credit to the transaction account. | We must receive the payment by 5pm Friday 28 June 2024. We recommend submitting by Tuesday 25 June 2024 before 5pm subject to issuing bank’s processing time. |
| Direct debit contributions | Transfer money via Panorama online from a linked account to the transaction account | We must receive the payment by 5pm Friday 28 June 2024. We recommend submitting by Tuesday 25 June 2024 before 5pm. |
| Transaction | Cut-off time and date (AEST) |
| Super Payments out (partial payment, sufficient cash available) |
Tuesday 25 June 2024 by 5pm |
| Super Payments out (closure / full payment of funds where there are no outstanding dividends/distributions) |
Tuesday 11 June 2024 by 5pm
|
Transaction |
Action required |
Cut-off time and date (AEST) |
| New applications (including applications in-flight) |
Terms and conditions must be accepted | Sunday 30 June 2024 by 11:59pm |
Listed security transactions |
Trades submitted and confirmed on the market via Panorama online or through an external broker | Wednesday 26 June 2024 by 5pm |
| Managed fund transactions | Orders submitted via Panorama online. | Thursday 27 June 2024 by 10am
|
| Managed portfolio transactions | Orders submitted via Panorama online | Thursday 27 June 2024 by 10am |
Things you should know
This information is current as at 15 May 2024.
The information shown on this site is general information only, it does not constitute any recommendation or advice; it has been prepared without taking into account any person’s personal objectives, financial situation or needs and so a person should consider its appropriateness having regard to these factors before acting on it. Any taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and our interpretation. A person’s individual situation may differ and they should seek independent professional tax advice. A person should also consider obtaining personalised advice from a professional financial adviser before making any financial decisions in relation to the matters discussed hereto.