Tax laws are complex and change frequently - so it's important to check this flyer regularly. It's also important to obtain professional advice about your own situation from a licensed financial adviser or tax adviser.
For information on super tax download the Tax flyer below:
Your tax file number
While providing your TFN to your super plan is not compulsory, it does ensure you don’t pay any unnecessary contributions tax. Significant consequences apply to Fund members who have not advised the Fund of their TFN. These include:
* Taxing all concessional contributions at the top marginal tax rate, and
* Prohibiting the Fund from accepting any of your non-concessional contributions.
The Company is required to pass on the TFNs of all new employees to the Fund (or their nominated super fund) within 14 days.