CB-Intouch_April2018_web

April 2018
The New Payments Platform is
now available at Customs Bank
This new platform, developed by Australia’s Banking Industry, will transform the way we pay each other,
allowing near real time payments. All you need is to register your PayID (a unique and easy to remember ID
like your mobile number or email address) and you can start sending and receiving money almost instantly! 1
Fast
Easy
Message
Capable
24/7 Secure
Visit www.customsbank.com.au/npp for more information
A Word from the Chairman
Welcome to our first edition of Intouch
for the year. It has been a very exciting
time for Customs Bank in recent
months. Since the last edition, Customs
Bank has won six Mozo ‘Experts Choice’
Awards and two Money Magazine ‘Best
of the Best’ Awards! At Customs Bank,
we continuously strive to deliver the
best value and service possible to our
Members.
In February, we were thrilled to advise that the New
Payment Platform (NPP) is now available to Customs Bank
Members, allowing near real time payments. Developed by
Australia’s Banking Industry, the NPP will transform the
way we pay each other.
We are also pleased to inform our Members that the Police
Bank and Customs Bank Annual Charity Golf Day is coming
up in May. All the proceeds raised from the day are being
donated to NSW Police Legacy and AFP Legacy. We know
that we have many Members who are keen golfers, so
whether you are a pro golfer or if you are a novice player, we
encourage all our Members and their friends to come along
and enjoy a great day on the greens to support these great
causes. More information is available on page 3.
I hope you enjoy reading our latest edition of Intouch.
David C. Walton
Chairman

Super Opportunity for
First Home Buyers
The ‘First home super saver scheme’ allows you to save for
a deposit for your first home using your super account. The
benefit of saving within your super is the concessional tax
treatment of super which can help you save faster compared
to a traditional savings account.
How does it work?
From 1 July 2017, you can make your own concessional and
non-concessional contributions into your current super
account to save for your first home. There is no need to open
a special super account.
From 1 July 2018, you can apply to the ATO to release these
contributions, along with the earnings on the contributions,
to fund the purchase of your first home when you’re ready.
Who is eligible?
To be eligible you must:
• be 18 or over at the time of applying for the release of
your money from super
• have never owned property in Australia, including a home
or investment property
• live or intend to live in the property for at least six months
of the first 12 months after purchase
• not have withdrawn an amount under this scheme before.
Money that can be released from your super account
includes:
• your non-concessional (after-tax) contributions
• your concessional contributions, such as salary sacrifice
contributions and personal deductible contributions
minus
• 15 per cent contribution tax
• the associated earnings on the above contributions.
Note: The non-concessional contributions must be
released before any concessional contributions. Also,
super guarantee contributions, spouse contributions and
government co-contributions cannot be released.
How much can you save?
The maximum amount you can contribute is:
• up to $15,000 from any one financial year, and
• a maximum of $30,000 in total across all years.
• This means a couple saving for a first home could
contribute up to $60,000 together.
While the non-concessional contributions can be paid
tax-free, all associated earnings plus any concessional
contributions in a withdrawal will be taxed at your marginal
tax rate. But, with a 30 per cent tax rebate from the
government this considerably reduces your overall tax
liability.
Benefits
This scheme can benefit you if you make salary sacrifice or
personal deductible contributions by:
• reducing your tax liability
• helping you budget via ‘forced savings’, and
• taking advantage of the investment returns which are
usually higher than a bank account.
We have chosen Bridges 2 as our preferred Financial
Planners. To arrange a complimentary, obligation free initial
consultation with a Bridges Financial Planner 2 near you, call
131 728 or visit www.customsbank.com.au
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45th Australasian Customs Golf Carnival
In March this year, Customs Bank had the pleasure of
sponsoring the Annual Austrasian Customs Golf Carnival.
Over 100 players competed in the four day carnival which
was held in South Australia. The players were given some
of South Australia’s best greens to play on including Mount
Compass, Victor Harbor, Links Lady Bay and McCracken
Golf Clubs.
The final game was between the South Australia and
Queensland teams, however the South Australia team took
home the winning title. Queensland didn’t go home empty
handed though. Their team member Adam Wiseman was
awarded this year’s Carnival Champion. Congratulations to
all involved!
The golf carnival, now in its 45th year is a great way for
serving and former Customs Officers and their partners
from all over Australasia to come together and catch up with
some old colleagues and make some new friends.
Customs Bank are proud to be ongoing sponsors of the
annual event. We look forward to next year’s event, which
will be held in sunny Queensland!
CUSTOMS BANK IS PROUD
TO BE RECOGNISED BY
MOZO AND MONEY
MAGAZINE FOR OUR
OUTSTANDING
PRODUCTS!
3

Annual Charity Golf Day
All proceeds are being donated to NSW Police Legacy & AFP Legacy
WHEN: Tuesday 15 May 2018
7am - Registration & breakfast
8am - Tee-off
Lunch & prizes on conclusion of golf
WHERE: Moore Park Golf Course
Cnr Anzac Pde & Cleveland St,
Moore Park, Sydney
COST: $65 - Police Bank & Customs
Bank Members
$75 - Non-members 3
Includes 18 holes of golf, breakfast,
lunch & a special gift pack
PRIZES: Longest drive, nearest pin and
winning teams (prizes will be listed at
customsbank.com.au/golfday)
To register & for more information, visit customsbank.com.au/golfday
RSVP by Friday 20th April 2018 by emailing marketing@customsbank.com.au
CONTACT US
Website: www.customsbank.com.au
Ph: 131 728 Email: info@customsbank.com.au Fax: (02) 9287 0850
Address: 25 Pelican Street, Surry Hills NSW 2010
CONNECT WITH US
/Customs Bank
@CustomsBank
Important Information
Effective date: 01/04/18. Customs Bank is a division of Police Bank Ltd. Terms, conditions, fees, charges and lending criteria apply. The product issuer for deposit and payment products is Police Bank Ltd. A Financial
Services Guide (FSG) including terms and conditions is available at all Service Centres, on our website and upon request. Any advice given has not taken into account your personal needs and financial circumstances
and you should consider whether it is appropriate for you. Please read and consider the FSG in deciding whether to use a particular product. Police Bank Ltd, AFSL/Australian Credit Licence No 240018. ABN 95 087
650 799. 25 Pelican Street, Surry Hills NSW 2010.
1. Terms and conditions apply. For full terms and conditions, please visit www.ustomsbank.com.au/NPP/#termsandconditions. 2. Bridges ASX Participant, AFSL No. 240837. Any advice given has not taken into
account your personal needs and financial circumstances and you should consider whether it is appropriate for you. Please read and consider the PDS in deciding whether to use a particular product. In referring
Members to Bridges, Customs Bank does not accept any liability or responsibility for any act or omission or advice provided by Bridges or its Authorised representatives. Bridges pay referral fees ranging from 0% to
30% of the entry and/or any ongoing fee (plus incentive payments from the amount you pay Bridges). 3. A minimum of one player per team must be a Member of Police Bank or Customs Bank.
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