Membership Guide - SuperFacts.com

Section 8 – Tax andyour superAlthough super is one of the most tax effective vehicles inwhich to save for your retirement, different levels of tax mayapply to certain contributions.Generally, tax is paid:• when contributions are paid into the Fund• on investment earnings• on benefits to which the tax-free limit doesn’t apply,which are paid to you when you are under age 60Tax is complicated, so you may wish to seek assistance froma tax adviser for advice on how superannuation taxes affectyou personally.For more information about tax and super, please readthe PDS.In line with the Superannuation industry (Supervision) Act1993, the Trustee of Lutheran Super is authorised to ask foryour tax file number. The Trustee will only use your tax filenumber for lawful purposes. These purposes may change inthe future if there are changes to legislation.The Trustee may pass your tax file number to any othersuper fund or account to which your super is transferred inthe future unless you request in writing that this notbe done.By providing your tax file number:• the Trustee will be able to accept all types ofcontributions made by or for you (some limitsmay apply)• you can avoid paying tax at a higher rate than wouldotherwise apply on your contributions• you can avoid paying tax at a higher rate than wouldotherwise apply on your benefit, and• it will be easier for you to find your super in the futureand ensure that you receive all of your super benefitswhen you retire.Choosing not to provide your tax file number is not anoffence. However, if you don’t provide your tax file numbernow or in the future:• the Trustee will only be able to accept contributionsmade for you by your employer. No other contributions,for example, after-tax contributions, can be accepted• you may pay more tax on contributions made for you byyour employer. In some circumstances you may be ableto claim back this additional tax, however time limits,fees and other rules may apply• you may pay more tax on your super benefit than youwould otherwise (although you can claim this backwhen you lodge your tax return).Super factDon’t pay extra tax! Providing yourtax file number is importantProviding your TFN to the Fund is important. If the Funddoes not have your TFN, you will pay additional tax onyour contributions and the Fund cannot accept any extracontributions you may make. Additionally, you may pay highertax than necessary on your super payout. Please ensure thatyou fill in Step 5 of the Application for membership form.Section 9 – Otherimportant informationEnquiries and complaintsMost enquiries can be sorted out over the phone,but if we are unable to help you immediately, youmay be asked to put your enquiry in writing. You canwrite to:Enquiries and Complaints OfficerLutheran SuperC/- GPO Box 4303Melbourne VIC 3001The matter will be investigated by the Complaints Officerand, where necessary, the Complaints Committee on behalfof the Trustee. You will be advised of the Trustee’s decisionas soon as possible and within 90 days or within 30 days ofthe Trustee’s decision, whichever is earlier.If you have a complaint and you are not satisfied with theresponse or the matter can’t be resolved, you may be able torefer the matter to the Superannuation Complaints Tribunal(SCT). The SCT is an independent government body whichis set up to help resolve disputes between super funds andtheir members. Any complaints must be lodged with theTribunal within certain time limits.For more information you can contact the SCT on1300 884 114 or write to:Superannuation Complaints TribunalLocked Bag 3060GPO Melbourne Victoria 3001For other important information, including Family Lawand your super and protecting your privacy, please readthe PDS.16