Suncorp superannuation customers only
It is very important that we update your personal details to ensure that we can continue to accept your premiums and superannuation contributions.
If Suncorp does not have your tax file number (TFN) from 1 July 2007 you may pay up to 3 times more tax on your superannuation contributions.
From 1 July 2007, if we do not have your TFN for your superannuation account:
- your personal after-tax superannuation contributions will be rejected;
- you will pay extra tax on other superannuation contributions - for example, employer or salary sacrifice contributions will have a 'No TFN Tax' applied at a rate of 31.5%. This is on top of the current mandated contribution tax of 15%, so the tax paid will be 46.5%; and
- you may miss out on valuable superannuation co-contributions from the Government.
Further information is available from Government's SimplerSuper or the Australian Tax Office.
Life insurance policies lapse if no TFN is recorded by 1 July 2007
Suncorp will only be able to accept premium payments to your Superannuation Term Life policy if we hold your TFN. So, if you have a Term Life insurance policy through a Suncorp superannuation fund you must also provide your TFN.
Ensure premiums can be accepted and to avoid paying higher tax that may impact your superannuation savings and retirement plans
- Suncorp superannuation customers notify us of your TFN today by completing this secure form
- Phone on 13 11 55 and ask for 'Life & Super' at the voice prompt. (Monday to Friday 8.30am to 6pm)
If you do provide your TFN, it will be stored securely and used only for legal purposes.
