Frequently asked questions about BT Super for Life

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Frequently asked questions about BT Super for Life"

Transcription

1 Frequently asked questions about BT Super for Life Information current as at: 1 July 2015 To be read in conjunction with the BT Super for Life PDS also found on this website. Contents Contributions caps 2 Concessional contributions cap 2 Non-concessional contributions cap 2 Capital Gains Tax (CGT) cap 2 Monitoring contributions cap amounts 2 How super is taxed 3 Eligible bank accounts 4 Who is managing my money? 5 Further detail concerning Environmental, Social and Corporate Governance ( ESG ) 5 Other information about super 7 Family law 7 Contributions splitting 7

2 Contributions When can money be added to my super? When money can be contributed to your super depends on your age and the type of contribution that you, your employer or spouse wishes to make on your behalf. The following table summarises when contributions can be made to your super: YOUR SITUATION EMPLOYER CONTRIBUTION OTHER CONTRIBUTION TYPES Super Guarantee (SG) Award Salary sacrifice and voluntary Personal 1 Spouse ROLLOVERS You are under age 65 You are aged between 65 and 69 inclusively and are: 1. gainfully employed 2 2. NOT gainfully employed 2 You are aged between 70 and 74 inclusively and are: 1. gainfully employed 2 2. NOT gainfully employed 2 You are aged 75 3 or older Contributions caps What are the limits that apply to super contributions? Contributions that exceed your contributions caps (shown in the two tables below) may have additional tax applied to them. Concessional contributions cap for 2015/16 AGE ON THE LAST DAY OF THE FINANCIAL YEAR for individuals aged 49 years or over on 30 June 2015 CONCESSIONAL CONTRIBUTIONS ANNUAL CAP FOR 2015/16 $35,000 for individuals aged 48 years or under as at 30 June 2015 $30,000 indexed to AWOTE 4 rounded down to the nearest $5,000 in subsequent financial years. WHICH CONTRIBUTIONS COUNT TOWARDS MY CONCESSIONAL CONTRIBUTION CAP? Contributions assessed against your concessional contributions cap include: Employer contributions including SG, Award, voluntary, and salary sacrifice contributions Personal tax deductible contribution (ie contributions for which a personal tax deduction is claimed) A higher concessional contributions cap of $35,000 per financial year (un-indexed) will be available for individuals aged 49 or over on 30 June For everyone else the standard $30,000 concessional contributions cap applies. 1_ If eligible, you may be able to claim a tax deduction for your personal contributions. You must complete a Notice of intent to claim or vary a personal tax deduction form (available at bt.com.au or by calling us) and have received an acknowledgement from us, before claiming personal contributions as a tax deduction in your tax return. Please refer to the Additional Information Booklet for further information. 2_ Gainfully employed means employed or self-employed (for gain or reward) for at least 40 hours in a period of not more than 30 consecutive days in the financial year in which the contribution is made. 3_ Other than for mandated employer contributions, the contribution must be received on or before the day that is 28 days after the end of the month in which you turn 75 where the gainful employment test as described above has been met. 4_ AWOTE is the measure of average weekly ordinary time earnings published by the Australian Bureau of Statistics. 2

3 Non-concessional contributions cap AGE ON THE LAST DAY OF THE FINANCIAL YEAR ANNUAL CAP 2015/16 FUND CAP 2015/16 Less than 65 $180,000 annually or you can bring forward up to two years worth of $540,000 non-concessional contributions to contribute up to $540,000 over a three year period Aged from 65 to 74 $180,000 $180, or over $0 contributions assessed against the non-concessional cap cannot Not applicable be made WHICH CONTRIBUTIONS COUNT TOWARDS MY NON-CONCESSIONAL CONTRIBUTION CAP? Contributions assessed against your non-concessional contributions cap include: Personal contributions for which you are not claiming a tax deduction Contributions made by your spouse into your account Contributions made with proceeds from the sale of small business assets that are in excess of the Capital Gains Tax (CGT) cap Excess concessional contributions that are not refunded to you. Note: if you triggered the bring forward non-concessional cap in the 2013/14 financial year, your relevant non-concessional cap under this rule will be $450,000 until the end of the 3 year period. For further information contact your financial adviser. Capital Gains Tax (CGT) cap A contribution made from certain amounts arising from the disposal of qualifying small business assets may count against the CGT cap, provided it is a personal contribution for which no tax deduction is claimed and an ATO election form is provided at the time the contribution is made. The CGT cap is a lifetime limit of $1,395,000 (for 2015/16) indexed to AWOTE* rounded down to the nearest $5,000 in following years). The rules about which amounts will qualify for contribution under the CGT cap are complex. You should consult a qualified professional adviser to determine whether your contributions qualify for the CGT cap. Monitoring contributions cap amounts It is your responsibility to make sure that you don t exceed the caps detailed in this section, as we cannot monitor your overall contributions cap position. BT Super for Life does not do this for you. BT Super for Life is generally unable, however, to accept a single amount paid by you (for which you will not claim a tax deduction) which is in excess of $540,000 (or $180,000 if you are 65 or over on 1 July in the year in which the contribution is received by BT Super for Life). The amount in excess of $540,000 (or $180,000) will be returned to you. How super is taxed You may also wish to refer to the ATO website for the latest information. Low income superannuation contribution (LISC) From 1 July 2012 until 30 June 2017, the LISC effectively returns the amount of tax paid on concessional contributions to superannuation for eligible low income earners. You will generally be eligible for a LISC if your adjustable taxable income does not exceed $37,000 and at least 10% of your income is sourced from employment or business sources. The amount of LISC payable will be calculated as 15% of the total concessional contributions made by you or on your behalf for the financial year, up to a maximum of $500. If you are eligible for the LISC the ATO will automatically make the payment into your super account. Government co-contributions The maximum government co-contribution for 2015/16 is $500. The co-contribution thresholds for 2014/15 and 2015/16 are shown below. Further information on co-contributions and eligibility is available from / /15 Maximum income for full co-contribution $35,454 $34,488 Maximum co-contribution amount $500 $500 Maximum income for partial co-contribution $50,454 $49,488 * AWOTE is the measure of average weekly ordinary time earnings published by the Australian Bureau of Statistics. 3

4 Introduction of a Temporary Budget Repair Levy The following rates incorporate the Temporary Budget Repair Levy (TBR Levy) which is applicable for the 2014/15, 2015/16 and 2016/17 financial years. For more information please refer to Tax rates The following table illustrates the tax rates that may impact contributions made into your account: TAX RATES 1 No TFN tax Tax on excess concessional contributions Tax on excess non-concessional contributions Tax on notional earnings Top marginal rate of tax WITH TBR LEVY 34% (including Medicare Levy) Up to 34% (including Medicare Levy) on top of the 15% already paid by the fund 49% (including Medicare Levy) if not released from super. If released from super tax is only payable on the notional earnings Your marginal rate of tax (up to 49%) less a 15% tax offset for the tax already paid by the fund 49% (including Medicare Levy) 1_ Medicare Levy is 2% from 1 July 2014 Eligible bank accounts BT Super for Life can process your redemption promptly into an eligible Westpac Group bank account. These are outlined below. If you hold a bank account with another financial institution, you will need to provide proof of identification in order to meet AML/CTF legislative requirements before we can redeem your super funds. ST GEORGE/BANK SA ELIGIBLE ACCOUNTS Complete Freedom Complete Freedom Offset Express Freedom Freedom Account Freedom Cheque Freedom Offset Freedom Offset Cheque Freedom Plus Investment Cash Account Portfolio Cash Management Account Portfolio Cash Management Account Cheque Option Power Saver Account Retirement Access Plus Retirement Access Plus Cheque Simply Freedom WESTPAC ELIGIBLE ACCOUNTS Westpac Choice Westpac Choice eaccount Westpac Reward Saver Westpac Cash Manager Westpac One Westpac One Basic Westpac One Premium Westpac Business One Westpac Business Flexi Account Classic Plus Basic Account Deeming Account Classic Account Bonus Saver Cash Management Account Business Cheque Account Business Cheque Plus Account Business Cash Management Account Advantage Saver Private Bank Deposit Bearing Interest BANK OF MELBOURNE ELIGIBLE ACCOUNTS Complete Freedom Complete Freedom Offset Express Freedom Freedom Account Freedom Cheque Freedom Offset Freedom Offset Cheque Freedom Plus Investment Cash Account Portfolio Cash Management Account Portfolio Cash Management Account Cheque Option Power Saver Account Retirement Access Plus Retirement Access Plus Cheque Simply Freedom Bank of Melbourne Sense 4

5 Who is managing my money? BT Super for Life selects Australia s and the world s leading investment managers in each asset class, mixed in a way that lets investors enjoy the best possible returns for their risk appetite. These investment managers can change from time to time. Fund managers include: AMP Capital Investors Ltd AQR Capital Management LLC BT Investment Management Ltd European Investors Franklin Templeton Kapstream Capital Pty Ltd Lazard Asset Management MFS Institutional Advisors Inc Northcape Capital Pty Ltd Perennial Investment Partners Ltd Phoenix Portfolios Pty Ltd Principal Global Investors (Australia) Ltd Schroder Investment Management Australia Ltd State Street Global Advisors Australia Ltd Trilogy Global Advisors LLC Wellington Management. For a complete list of investment managers, please go to bt.com.au. Further detail concerning Environmental, Social and Corporate Governance ( ESG ) What are the Principles for Responsible Investment (PRI)? The Principles for Responsible Investment (PRI) were developed by an international group of institutional investors reflecting the increasing relevance of environmental, social and corporate governance (ESG) issues to investment practices. The united nations supported initiative is an international network of investors working together to put the six Principles for Responsible Investment into practice. Its goal is to understand the implications of sustainability for investors and support signatories to incorporate these issues into their investment decision making and ownership practices. In implementing the Principles, signatories contribute to the development of a more sustainable global financial system. BT Financial Group has been a signatory to the Principles since 2007, shortly after the initiative was launched. As signatories to the PRI, we believe that ESG issues can affect the performance of investment options (to varying degrees across securities, sectors, regions, asset classes and through time). We also recognise that applying the Principles may better align investments with the broader objectives of society. The six principles are: Therefore, where consistent with our fiduciary responsibilities, we commit to the following: 1) We will incorporate ESG issues into investment analysis and decision-making processes. 2) We will be active owners and incorporate ESG issues into our ownership policies and practices. 3) We will seek appropriate disclosure on ESG issues by the entities in which we invest. 4) We will promote acceptance and implementation of the Principles within the investment industry. 5) We will work together to enhance our effectiveness in implementing the Principles. 6) We will each report on our activities and progress towards implementing the Principles. More information concerning the PRI can be found at: The PRI Initiative supports signatories efforts in their implementation of the Principles for Responsible Investment through the annual reporting and assessment process. Reporting is one of the mandatory requirements for all asset owner and investment manager signatories. BT Financial Group s public report can be found at: 5

6 Dow Jones Sustainability Indices The Dow Jones Sustainability Indices ( DJSI ) were launched in 1999 as the first global sustainability benchmarks. The indices are offered cooperatively by RobecoSAM and S&P Dow Jones Indices. The family tracks the stock performance of the world s leading companies in terms of economic, environmental and social criteria. The indices serve as benchmarks for investors who integrate sustainability considerations into their portfolios, and provide an effective engagement platform for companies who want to adopt sustainable best practices. Their investment decisions are based on two practical guiding principles: sustainable business practices are critical to the creation of long-term stakeholder value in an increasingly resource-constrained world in a competitive environment, sustainability factors represent risks as well as opportunities for companies. They aim to actively integrate these factors into their investment process. SAM Group Holdings SAM Group Holdings ( SAM ) describes itself as a global investment boutique focused exclusively on Sustainability Investing. SAM uses financial markets as the most powerful transmission mechanism to promote sustainable business practices. With an exclusive focus on Sustainability Investing, SAM provides a unique and broad range of sustainability solutions. SAM uses industry-specific criteria to assess economic, environmental, and social aspects of companies and, ultimately, investability, using its Corporate Sustainability Assessment (CSA). SAM Group uses proprietary methodology to look at 58 sectors with CSA and claims to have one of the world s largest corporate sustainability databases. SAM analyses sustainability-related information from over 2,000 exchange-listed companies a year. More information concerning DJSI and SAM can be found at and 6

7 Other information about super Family law Part of the Family Law Act 1975 (the Act) deals with the treatment of superannuation on relationship* or marriage breakdown. The Act provides that a member s superannuation benefit may be split with the member s spouse** or former spouse on relationship or marriage breakdown. Alternatively, a payment flag may be imposed on the member s superannuation benefit. In order for the Trustee to commence any payment split or impose a payment flag, the Trustee must have been served with either: a superannuation agreement made in accordance with the Act; or an Order of the Family Court of Australia, that specifies how your benefit is to be split with your spouse or former spouse, or that a payment flag must be applied to your account. The Act specifies that the Trustee must be provided with certain evidence of marriage or relationship breakdown. You or your former spouse may arrange for the required documents to be served on us. For the purposes of the Act, documents can only be served on us at the following address: Professional advice The Act involves many complex requirements in relation to splitting a superannuation benefit. It is recommended that, if you believe your BT Super benefit will be affected by the Act, you should consult your legal adviser, financial adviser and/or accountant. Contributions splitting Superannuation contribution splitting allows you to split certain superannuation contributions made during a financial year to your spouse s superannuation account. It is a way for your spouse to grow their own superannuation, even if they have a low income or they are not working. Splitting your superannuation contributions may provide you and your spouse more choices in how to prepare for your retirement. To split contributions, you and your spouse will need to complete a BT Super for Life Contributions Splitting application form. To find out more about Contribution Splitting, including limits and eligibility conditions, and to obtain the BT Super for Life Contributions splitting application form, log into internet banking, click on your BT Super for Life account, and select Forms and publications in the left menu. Family Law and Superannuation Officer Legal Department BT Funds Management Limited Level 20, 275 Kent Street, Sydney NSW 2000 All documents served on us should be either an original or a certified copy. For more information, go to Information about your super benefit If the Trustee is required to affect a payment split on your benefit, the value of your account will reduce by the amount that is paid to, or for the benefit of, your spouse or former spouse. Information about your superannuation benefit Where an eligible person under the Act wishes to negotiate a superannuation agreement with you (which may be before or during a relationship, or after relationship breakdown) or facilitate the preparation of an order of the Family Court, they may apply to the Trustee to receive information about your benefit. Where the application is made in accordance with the requirements of the Act, the Trustee will be obliged to provide the requested information and will not be permitted to inform you about the application. * Legislation to expand the Family Law Act to cover relationship breakdown as well as marriage breakdown is effective from 1 July 2010 for South Australia and from 1 March 2009 for all other States and Territories (with the current exception of Western Australia). ** Your spouse includes: your husband or wife via marriage; or your de facto partner or any other person with whom you are in a relationship (provided that this relationship is registered under a certain state or territory law); or another person who, although not legally married to you, lives with you on a genuine domestic basis in a relationship as a couple. 7

8 For more information bt.com.au BT sx

State Super retirement FuND

State Super retirement FuND State Super retirement FuND Additional Information Booklet Date of Issue 20 January 2015 State Super Financial Services Australia Limited ABN 86 003 742 756 Australian Financial Services Licence No. 238430

More information

Super taxes, caps, payments, thresholds and rebates

Super taxes, caps, payments, thresholds and rebates Fact Sheet Super taxes, caps, payments, thresholds and rebates This fact sheet provides a useful one-stop reference guide to the tax rates, caps, thresholds and rebates that apply or are related to superannuation

More information

Tax on contributions. Non-concessional (after tax) contribution caps. Age at 1 July 2015 Annual cap Tax rate Under 65 $180,000* Nil 65-74 $180,000 Nil

Tax on contributions. Non-concessional (after tax) contribution caps. Age at 1 July 2015 Annual cap Tax rate Under 65 $180,000* Nil 65-74 $180,000 Nil This section summarises the main Federal Government taxes that apply to superannuation at the time of preparation. For more information, contact MyLife MySuper on 1300 MYLIFE (695 433) or the Australian

More information

How super works. MySuper. Member Booklet Supplement. 1 July 2015

How super works. MySuper. Member Booklet Supplement. 1 July 2015 Member Booklet Supplement How super works July 205 The information in this document forms part of the First State Super Member Booklets (Product Disclosure Statements) for: Employer Sponsored members dated

More information

ewrap Super/Pension Additional Information Booklet

ewrap Super/Pension Additional Information Booklet ewrap Super/Pension Additional Information Booklet Issue date: 24 November 2014 This ewrap Super/Pension Additional Information Booklet (this Booklet) has been prepared by the trustee of ewrap Super/Pension:

More information

Additional Information Booklet

Additional Information Booklet SuperWrap Additional Information Booklet Dated 20 November 2015 This Additional Information Booklet ( Booklet ) has been prepared by the issuer of SuperWrap: BT Funds Management Limited ABN 63 002 916

More information

SUMMARY OF RATES AND THRESHOLDS 2015/16

SUMMARY OF RATES AND THRESHOLDS 2015/16 SUMMARY OF RATES AND THRESHOLDS 2015/16 CONTENTS Superannuation rates and thresholds Concessional contributions Non-concessional contributions Capital Gains Tax (CGT) cap amount Untaxed plan cap amount

More information

Personal Choice Private ewrap Super/Pension

Personal Choice Private ewrap Super/Pension Personal Choice Private ewrap Super/Pension Product Disclosure Statement (PDS) Part 2 Additional Information I 1 July 2014 PERSONAL CHOICE PRIVATE This Personal Choice Private ewrap Super/Pension PDS Part

More information

Contributing to your super

Contributing to your super SUP E R ANNUATION Contributing to your super GESB Super and West State Super ISSUE DATE: 1 July 2015 PREPARATION DATE: 26 June 2015 Government Employees Superannuation Board ABN 43 418 292 917 Contents

More information

Fact Sheet Tax on Super 2009/10

Fact Sheet Tax on Super 2009/10 It pays to belong TM Key Focus A tax of 15% applies to concessional (i.e. before tax) contributions. All employer and salary sacrifice contributions will be taxed at the top marginal rate if your super

More information

Contributions are taxed differently depending on whether you are making contributions to a taxed or untaxed fund.

Contributions are taxed differently depending on whether you are making contributions to a taxed or untaxed fund. Tax and super Issue Date: 1 July 2015 SUP E R ANNUATION The information in this document forms part of the Product Information Booklets for GESB Super and West State Super, each dated 1 July 2015. You

More information

SMSF Solutions for Advisers & Accountants.

SMSF Solutions for Advisers & Accountants. SMSF Solutions for Advisers & Accountants. 1 November 2015 www.multiport.com.au Multiport Pty Ltd ABN 76 097 695 988 AFS LICENCE NO: 291195 Contents Taking the hassle out of SMSF administration and compliance

More information

Additional Information Booklet

Additional Information Booklet SuperWrap Additional Information Booklet Dated 1 July 2014 This Additional Information Booklet ( Booklet ) has been prepared by the issuer of SuperWrap: BT Funds Management Limited ABN 63 002 916 458 AFSL

More information

Key Superannuation Rates and Thresholds

Key Superannuation Rates and Thresholds Key Superannuation Rates and Thresholds Concessional contributions cap Concessional contributions consist of: 1. Employer contributions including salary sacrifice contributions 2. Personal contributions

More information

2014/15 Key Superannuation Rates and Thresholds

2014/15 Key Superannuation Rates and Thresholds 2014/15 Key Superannuation Rates and Thresholds These are the key rates and thresholds that apply in relation to superannuation contributions and benefits, superannuation guarantee and co-contributions.

More information

How super is taxed. About this document. Tax on concessional contributions. Concessional contribution tax rates from 1 July 2015:

How super is taxed. About this document. Tax on concessional contributions. Concessional contribution tax rates from 1 July 2015: How super is taxed Date of issue: 1 July 2015 mtaasuper.com.audate Phone: 1300December 362 415 2014 Fax: 1300 365 142 of issue: The information in this document forms part of the Product Disclosure Statement

More information

ADVANCE RETIREMENT SAVINGS ACCOUNT Annual Report for year ended 30 June 2014. Issued by BT Funds Management Limited ABN 63 002 916 458 AFSL 233724

ADVANCE RETIREMENT SAVINGS ACCOUNT Annual Report for year ended 30 June 2014. Issued by BT Funds Management Limited ABN 63 002 916 458 AFSL 233724 ADVANCE RETIREMENT SAVINGS ACCOUNT Annual Report for year ended 30 June 2014 Issued by BT Funds Management Limited ABN 63 002 916 458 AFSL 233724 CONTENTS Introduction... 1 Recent developments in superannuation...

More information

Understanding superannuation Version 5.0

Understanding superannuation Version 5.0 Understanding superannuation Version 5.0 This document provides some additional information to help you understand the financial planning concepts discussed in the SOA in relation to superannuation. This

More information

How super is taxed. VicSuper FutureSaver Member Guide

How super is taxed. VicSuper FutureSaver Member Guide How super is taxed VicSuper FutureSaver Member Guide Date prepared 1 July 2015 The information in this document forms part of the VicSuper FutureSaver Product Disclosure Statement (PDS) dated 1 July 2015.

More information

How super works. VicSuper FutureSaver Member Guide

How super works. VicSuper FutureSaver Member Guide How super works VicSuper FutureSaver Member Guide Date prepared 1 July 2015 The information in this document forms part of the VicSuper FutureSaver Product Disclosure Statement (PDS) dated 1 July 2015.

More information

BT Term Life as Superannuation

BT Term Life as Superannuation BT Term Life as Superannuation Annual Report for the year ended 30 June 2014 The issuer of Term Life as Superannuation (part of the Superannuation Division of Westpac MasterTrust ABN 81 236 903 448, SFN

More information

Financial Services with a Personal Touch

Financial Services with a Personal Touch Financial Services with a Personal Touch CONCESSIONAL CONTRIBUTIONS CAP Concessional contributions include: employer contributions (including contributions made under a salary sacrifice arrangement) personal

More information

CLIENT FACT SHEET. If you are under age 65 you may make personal contributions to superannuation on your own behalf.

CLIENT FACT SHEET. If you are under age 65 you may make personal contributions to superannuation on your own behalf. CLIENT FACT SHEET July 2010 Understanding superannuation and superannuation contributions Superannuation is an investment vehicle designed to assist Australians in saving for their retirement. The Government

More information

Member guide. Superannuation and Personal Super Plan. The information in this document forms part of the Hostplus Product Disclosure Statement issued

Member guide. Superannuation and Personal Super Plan. The information in this document forms part of the Hostplus Product Disclosure Statement issued Member guide. Superannuation and Personal Super Plan Product Disclosure Statement The information in this document forms part of the Hostplus Product Disclosure Statement issued Section 7. How super is

More information

Superannuation Technical Information Booklet

Superannuation Technical Information Booklet Superannuation Technical Information Booklet Macquarie Wrap Document number MAQST02 The information contained in this Technical Information Booklet should be read in conjunction with the relevant Product

More information

Product Disclosure Statement

Product Disclosure Statement Product Disclosure Statement bcu Retirement Savings Account (Current as at August 20, 2014) Bananacoast Community Credit Union Ltd ABN 50 087 649 750 AFSL No. 241077 The information in this PDS is general

More information

BT Income Protection as Superannuation

BT Income Protection as Superannuation BT Income Protection as Superannuation Annual Report for the year ended 30 June 2014 The issuer of Income Protection as Superannuation (part of the Superannuation Division of Westpac MasterTrust ABN 81

More information

Understanding Superannuation

Understanding Superannuation Understanding Superannuation Client Fact Sheet July 2012 Superannuation is an investment vehicle designed to assist Australians save for retirement. The Federal Government encourages saving through superannuation

More information

Super move enhancements to your plan. Notice to members of BT Business Super ( BT Super )

Super move enhancements to your plan. Notice to members of BT Business Super ( BT Super ) Super move enhancements to your plan Notice to members of BT Business Super ( BT Super ) Contents 1_Overview 2_Changes to Fees and other costs Reduced Administration fees 4 Reduced Investment Manager Charge

More information

stc factsheet 13 information about the commonwealth

stc factsheet 13 information about the commonwealth information about the commonwealth government s superannuation co-contribution and the low income superannuation contribution This fact sheet provides an overview of the Commonwealth Government s superannuation

More information

AustChoice Super general reference guide (ACH.02)

AustChoice Super general reference guide (ACH.02) AustChoice Super general reference guide (ACH.02) Issued: 28 May 2015 This guide contains important information not included in the AustChoice Super PDS. We recommend you read this entire guide. The information

More information

Product Disclosure Statement

Product Disclosure Statement AMP Retirement Savings Account Product Disclosure Statement Contents 1. About AMP Retirement Savings Account 2. How super works 3. Benefits of investing with AMP Retirement Savings Account 4. Risks of

More information

General reference guide

General reference guide General reference guide (TPS.01) Issued: 1 July 2015 The Portfolio Service Super Essentials The Portfolio Service Superannuation Plan The Portfolio Service Retirement Income Plan This guide contains important

More information

RECENT INCOME TAX CHANGES

RECENT INCOME TAX CHANGES RECENT INCOME TAX CHANGES Increased Medicare Levy Low Income Thresholds The Medicare Levy low-income thresholds for families and dependent child-student component of the threshold have been changed to

More information

Generations Personal Super and Personal Pension

Generations Personal Super and Personal Pension Generations Personal Super and Personal Pension Additional information booklet (AIB) update This is an update to the Generations Personal Super and Personal Pension additional information booklet, issue

More information

Superannuation contributions : who can contribute and when?

Superannuation contributions : who can contribute and when? Superannuation contributions : who can contribute and when? The Regulations to the Superannuation Industry (Supervision) Act (1993) set out detailed rules governing who can contribute to superannuation

More information

Retirement Savings Account (RSA)

Retirement Savings Account (RSA) Retirement Savings Account (RSA) Product Disclosure Statement (PDS) Incorporated (by reference) Information Booklet - Superannuation, Rollovers and Pensions. As at 24 September 2014 Issued by the Qantas

More information

ADVANCE RETIREMENT SUITE PERSONAL SUPER ALLOCATED PENSION Annual Report for the year ended 30 June 2014

ADVANCE RETIREMENT SUITE PERSONAL SUPER ALLOCATED PENSION Annual Report for the year ended 30 June 2014 ADVANCE RETIREMENT SUITE PERSONAL SUPER ALLOCATED PENSION Annual Report for the year ended 30 June 2014 Issued by BT Funds Management Limited ABN 63 002 916 458 AFSL 233724 CONTENTS Introduction... 1 Recent

More information

St.George Income Protection as Superannuation. Annual report for the year ended 30 June 2014.

St.George Income Protection as Superannuation. Annual report for the year ended 30 June 2014. St.George Income Protection as Superannuation Annual report for the year ended 30 June 2014. Contents Welcome... 3 Recent developments in superannuation... 4 Increases to Superannuation Guarantee...4 Concessional

More information

MLC MasterKey Super & Pension Fundamentals MLC MasterKey Super & Pension How to Guide

MLC MasterKey Super & Pension Fundamentals MLC MasterKey Super & Pension How to Guide MLC MasterKey Super & Pension Fundamentals MLC MasterKey Super & Pension How to Guide Preparation date 1 July 2015 Issued by The Trustee, MLC Nominees Pty Limited (MLC) ABN 93 002 814 959 AFSL 230702 The

More information

Contributions. Things you should know about making contributions to your SMSF BROUGHT TO YOU BY

Contributions. Things you should know about making contributions to your SMSF BROUGHT TO YOU BY Contributions Things you should know about making contributions to your SMSF BROUGHT TO YOU BY CONTENTS Non Concessional Contributions: Aged Under 65... 2 Non Concessional Contributions: Aged 65 to 74...

More information

Reliance Super. Taxation Supplement. 14 March 2014. a membership category of Maritime Super

Reliance Super. Taxation Supplement. 14 March 2014. a membership category of Maritime Super Taxation Supplement 14 March 2014 Contents Tax on contributions 2 Tax on rollovers 3 Tax on investment earnings 3 Tax on super benefits 3 Spouse tax offset 7 Tax deductions for the self-employed 7 Low

More information

ASC Superannuation Plan

ASC Superannuation Plan ASC Superannuation Plan sub-plan of The Executive Superannuation Fund Product Disclosure Statement 28 June 2013 Things you should know: This Product Disclosure Statement ( PDS ) is a summary of significant

More information

AMP Eligible Rollover Fund Product Disclosure Statement

AMP Eligible Rollover Fund Product Disclosure Statement AMP Eligible Rollover Fund Product Disclosure Statement Issued 30 June 2014 Contents 1. About AMP Eligible Rollover Fund 2. How super works 3. Benefits of investing with AMP Eligible Rollover Fund 4. Risks

More information

ENTERPRISE SUPER MEMBERS GUIDE. EMPLOYER SPONSORED SUPERANNUATION & PERSONAL SUPERANNUATION Issue Date: 22 June 2012

ENTERPRISE SUPER MEMBERS GUIDE. EMPLOYER SPONSORED SUPERANNUATION & PERSONAL SUPERANNUATION Issue Date: 22 June 2012 ENTERPRISE SUPER EMPLOYER SPONSORED SUPERANNUATION & PERSONAL SUPERANNUATION Issue Date: 22 June 2012 Enterprise Super is a division of General Retirement Plan, ABN 32 894 907 884 PO Box 1282, Albury NSW

More information

Retirement Savings Account (RSA)

Retirement Savings Account (RSA) Retirement Savings Account (RSA) Product Disclosure Statement (PDS) Incorporated (by reference) Information Booklet - Superannuation, Rollovers and Pensions. As at 12 March 2012 Issued by the Qantas Staff

More information

Super contributions - too much super can mean extra tax Introduction

Super contributions - too much super can mean extra tax Introduction Super contributions - too much super can mean extra tax Introduction There are caps on the amount you can contribute to your superannuation each financial year that are taxed at lower rates. If you contribute

More information

FirstTech. Super guide 2010/11. Adviser use only

FirstTech. Super guide 2010/11. Adviser use only FirstTech Super guide 2010/11 FirstTech was ranked 1st by advisers for Technical Support in the 2010 Wealth Insights Fund Manager Service Survey. This Super guide has been developed to provide you with

More information

The sooner you start thinking about growing your super, the better. But it s never too late.

The sooner you start thinking about growing your super, the better. But it s never too late. > Get calculating! If you d like to see the effect that personal contributions may have on your final entitlement, access the Super SA Benefit Projector on the Super SA website www.supersa.sa.gov.au. The

More information

Atwood Oceanics Australia Superannuation Plan sub-plan of The Executive Superannuation Fund

Atwood Oceanics Australia Superannuation Plan sub-plan of The Executive Superannuation Fund Atwood Oceanics Australia Superannuation Plan sub-plan of The Executive Superannuation Fund ACCUMULATION DIVISION INCORPORATED INFORMATION Prepared: 11 September 2012 The issuer and Trustee of the Atwood

More information

Superannuation Product Disclosure Statement effective 1 January 2016

Superannuation Product Disclosure Statement effective 1 January 2016 Superannuation Pensions Insurance Financial Advice Superannuation Product Disclosure Statement effective 1 January 2016 Contents About us 2 How super works 3 Benefits of investing with us 3 Risks of super

More information

RECENT INCOME TAX CHANGES

RECENT INCOME TAX CHANGES RECENT INCOME TAX CHANGES Financial Institution Details Required From 1 July 2013, when preparing your income tax returns we will need to include your nominated Australian bank account details when a refund

More information

BT Super for Life. Additional. Dated 1 July 2014. Dated July 2013. Things you should know information

BT Super for Life. Additional. Dated 1 July 2014. Dated July 2013. Things you should know information BT Super for Life Additional Product Information Disclosure Booklet Statement Dated July 2013 Dated 1 July 2014 We recommend that you read this Product Disclosure Statement (PDS) in full before making

More information

Member Application Form

Member Application Form Member Application Form ABN 76 829 356 693 RSE R1004366 SFN 299 735 940 SPIN CFS0102AU Chifley Financial Services Limited (Trustee) ABN 75 053 704 706 AFSL 231148 RSEL L0001120 Instructions Member Services

More information

BT Lifetime. Personal Super. Contents. 1. About BT Lifetime Personal Super 2 2. How super works 2 3.

BT Lifetime. Personal Super. Contents. 1. About BT Lifetime Personal Super 2 2. How super works 2 3. Contents BT Lifetime Personal Super Product Disclosure Statement (PDS) Dated 1 July 2014 1. About BT Lifetime Personal Super 2 2. How super works 2 3. Benefits of investing with BT Lifetime Personal Super

More information

SMSF Facts Sheet. July 2015

SMSF Facts Sheet. July 2015 SMSF Facts Sheet July 2015 Key Superannuation Rates and Thresholds - 2015/16 Contributions The tables below contain the amounts of concessional and non-concessional contributions you may make to your superannuation

More information

Westpac Personal Superannuation Fund.

Westpac Personal Superannuation Fund. Westpac Personal Superannuation Fund. Annual Report for the year ended 30 June 1 Features at a glance. 2 Investment Overview. 4 Investment Options. 5 Investment Option profiles. 10 Performance. 12 Fees

More information

Freelancers, the self-employed & super.

Freelancers, the self-employed & super. YOUR SUPER Freelancers, the self-employed & super. If you are self-employed or a freelance or contract worker Media Super can help you understand your super and tax options, and what you can do to maximise

More information

Guide to your Nestlé Super. Defined Benefit category IBR

Guide to your Nestlé Super. Defined Benefit category IBR Australia Group Superannuation Fund Guide to your Nestlé Super Defined Benefit category IBR The information in this document forms part of the Nestlé Super Product Disclosure Statement Defined Benefit

More information

OneAnswer Personal Super and Pension. Additional Information Guide

OneAnswer Personal Super and Pension. Additional Information Guide OneAnswer Personal Super and Pension Additional Information Guide 27 February 2012 Entity details in this guide Name of legal entity Registered numbers Abbreviated terms used throughout the PDS OnePath

More information

SALARY PACKAGING SUPERANNUATION GUIDE TO EMPLOYEES

SALARY PACKAGING SUPERANNUATION GUIDE TO EMPLOYEES SALARY PACKAGING SUPERANNUATION GUIDE TO EMPLOYEES Superannuation Introducing Salary Packaging Salary packaging has been made available to all staff of the University through the Enterprise Agreement process.

More information

Superannuation Surcharge Guide. Issued: December 2013

Superannuation Surcharge Guide. Issued: December 2013 Superannuation Surcharge Guide Issued: December 2013 Contents Introduction... 3 Surcharge process... 4 What are my options?... 5 Need more information?... 7 Contact Centres 70 Eagle Street Brisbane 63

More information

Superannuation. A Financial Planning Technical Guide

Superannuation. A Financial Planning Technical Guide Superannuation A Financial Planning Technical Guide 2 Superannuation Contents Superannuation overview 4 Superannuation contributions 4 Superannuation taxation 7 Preservation 9 Beneficiary nomination 9

More information

Fees and other costs. MySuper. Member Booklet Supplement. 1 July 2015

Fees and other costs. MySuper. Member Booklet Supplement. 1 July 2015 Member Booklet Supplement Fees and other costs 1 July 2015 The information in this document forms part of the First State Super Member Booklets (Product Disclosure Statements) for: Employer Sponsored members

More information

Making the Most of Your Super

Making the Most of Your Super Making the Most of Your Super For many people, super is one of the best ways to accumulate wealth. The Government provides tax benefits to encourage people to fund their own retirement. With more Australians

More information

REST Super Member Guide

REST Super Member Guide REST Super Member Guide Effective 1 October 2015 REST Super has a MySuper option The information in this document forms part of the REST Super Product Disclosure Statement (PDS), effective 1 October 2015.

More information

SUPERANNUATION. Home Insurance. Super fundamentals. Foundations for your future

SUPERANNUATION. Home Insurance. Super fundamentals. Foundations for your future SUPERANNUATION Home Insurance Super fundamentals Foundations for your future As one of your most important financial investments, it s worth understanding how superannuation works. For many Australians,

More information

Financial Planning Fundamentals

Financial Planning Fundamentals Reference Guide February 2016 Financial Planning Fundamentals This document is an information reference to be used in conjunction with your Statement of Advice, Product Disclosure Statement(s) (PDS) and

More information

Telstra Super Personal Plus

Telstra Super Personal Plus 01/ 17 NOVEMBER 2015 PRODUCT DISCLOSURE STATEMENT Telstra Super Personal Plus Making the most of your future Contents 01 About Telstra Super and Telstra Super Personal Plus 02 02 How super works 02 03

More information

1 What is the role of a financial planner when advising a client about retirement planning?

1 What is the role of a financial planner when advising a client about retirement planning? Questions with Guided Answers by Graeme Colley 2013 Reed International Books Australia Pty Limited trading as LexisNexis. Permission to download and make copies for classroom use is granted. Reproducing

More information

Taking the mystery out of salary sacrifice

Taking the mystery out of salary sacrifice Hostplus Salary Sacrifice August 2015 Taking the mystery out of salary sacrifice Learn how you can pay less tax, get more super and make a big difference to your future Welcome Thinking about how you can

More information

Super terms explained

Super terms explained Super terms explained Here is a useful reference guide to some of the terms we use with Super. The guide provides plain English information about Super, but does not give formal legal definitions. For

More information

Guide for notice of intent to claim a tax deduction for personal super contributions 2014/2015

Guide for notice of intent to claim a tax deduction for personal super contributions 2014/2015 Guide for notice of intent to claim a tax deduction for personal super contributions 2014/2015 Under section 290-170 of the Income Tax Assessment Act 1997 Need Help? For more information about your eligibility

More information

ANZ Superannuation Savings Account

ANZ Superannuation Savings Account ANZ Superannuation Savings Account ADDITIONAL INFORMATION GUIDE 21 JUNE 2012 Issued by OnePath Custodians Pty Limited ABN 12 008 508 496, AFSL 238346, RSE L0000673 About this Additional Information Guide

More information

Getting the best out of your superannuation savings

Getting the best out of your superannuation savings Booklet 1 Getting the best out of your superannuation savings MAStech Smart technical solutions made simple Contents Introduction 01 Introduction 03 Saving through super 08 How a super fund works 09 How

More information

Westpac Protection Plans. Product Disclosure Statement and Policy Document ( PDS )

Westpac Protection Plans. Product Disclosure Statement and Policy Document ( PDS ) Westpac Protection Plans Product Disclosure Statement and Policy Document ( PDS ) Westpac Term Life Westpac Term Life as Superannuation Westpac Standalone Living Insurance Westpac Standalone Total and

More information

BT Super for Life. Product Disclosure Statement (PDS) Contents. Dated 1 July 2014

BT Super for Life. Product Disclosure Statement (PDS) Contents. Dated 1 July 2014 Contents BT Super for Life Product Disclosure Statement (PDS) Dated 1 July 2014 1. About BT Super for Life 2 2. How super works 2 3. Benefits of investing with BT Super for Life 3 4. Risks of super 5 5.

More information

Your Super Guide. Product Disclosure Statement 15 December 2014 Nestlé Super Insured Accumulation category. Contents. Important Information

Your Super Guide. Product Disclosure Statement 15 December 2014 Nestlé Super Insured Accumulation category. Contents. Important Information Australia Group Superannuation Fund Your Super Guide Product Disclosure Statement 15 December 2014 Nestlé Super Insured Accumulation category Contents 1 About Nestlé Super p2 2 How super works p2 3 Benefits

More information

Tax planning reminders for 30 June 2012

Tax planning reminders for 30 June 2012 Tax planning reminders for 30 June 2012 Keep your receipts!... 1 Government Co-contributions... 1 Personal deductible contributions... 3 Split super with your spouse... 3 Employer Superannuation Contributions...

More information

Defence Bank Super Assured Retirement Savings Account

Defence Bank Super Assured Retirement Savings Account RETIREMENT SAVINGS ACCOUNT (RSA) Defence Bank Super Assured Retirement Savings Account Superannuation fee free. The way it should be for all Australians. General Information and Application Form Product

More information

2016/17 Budget. 1. Effective Budget Night 7.30pm (AEST) 3 May 2016. 1.1 New lifetime cap for non-concessional superannuation contributions

2016/17 Budget. 1. Effective Budget Night 7.30pm (AEST) 3 May 2016. 1.1 New lifetime cap for non-concessional superannuation contributions 2016/17 Budget Superannuation reform changes 1. Effective Budget Night 7.30pm (AEST) 3 May 2016 1.1 New lifetime cap for non-concessional superannuation contributions The government will introduce a $500,000

More information

Important Information and Issuer Information. Contents. 1. About ING DIRECT 3. 2. Benefits of ING DIRECT Living Super 3. 3.

Important Information and Issuer Information. Contents. 1. About ING DIRECT 3. 2. Benefits of ING DIRECT Living Super 3. 3. 1 Contents 1. About ING DIRECT 3 2. Benefits of ING DIRECT Living Super 3 3. How super works 5 4. How your ING DIRECT Living Super account works 10 5. Investment options 20 6. Fees and other costs 27 7.

More information

REST Employer Guide. rest.com.au 1300 305 775. Effective 15 February 2016

REST Employer Guide. rest.com.au 1300 305 775. Effective 15 February 2016 REST Employer Guide Effective 15 February 2016 Issued by Retail Employees Superannuation Pty Limited ABN 39 001 987 739 AFSL 240003 Retail Employees Superannuation Trust ABN 62 653 671 394 rest.com.au

More information

CommInsure Corporate Insurance. Superannuation Trust. Annual Report 2013

CommInsure Corporate Insurance. Superannuation Trust. Annual Report 2013 CommInsure Corporate Insurance Superannuation Trust Annual Report 2013 Fund CommInsure Corporate Insurance Superannuation Trust ABN 49 968 181 565 R1072457 PO Box 1282 ALBURY NSW 2640 Phone: 1300 767 400

More information

SUPERANNUATION. Home Insurance. Super fundamentals. Foundations for your future

SUPERANNUATION. Home Insurance. Super fundamentals. Foundations for your future SUPERANNUATION Home Insurance Super fundamentals Foundations for your future As one of your most important financial investments, it s worth understanding how superannuation works. For many Australians,

More information

Westpac MasterTrust Fund Westpac Income Protection as Superannuation. Annual Report for the year ended 30 June 2013

Westpac MasterTrust Fund Westpac Income Protection as Superannuation. Annual Report for the year ended 30 June 2013 Westpac MasterTrust Fund Westpac Income Protection as Superannuation Annual Report for the year ended 30 June 2013 Contents Welcome 3 Recent developments in superannuation 4 Other useful information 5

More information

Westpac Personal Superannuation Fund Westpac Term Life as Superannuation

Westpac Personal Superannuation Fund Westpac Term Life as Superannuation Westpac Personal Superannuation Fund Westpac Term Life as Superannuation Annual Report for the year ended 30 June 2011 WESTPAC PERSONAL SUPERANNUATION FUND WESTPAC TERM LIFE AS SUPERANNUATION Contents

More information

Insurance Cover Changes SIGNIFICANT EVENT NOTICE

Insurance Cover Changes SIGNIFICANT EVENT NOTICE Insurance Cover Changes SIGNIFICANT EVENT NOTICE This Significant Event Notice is issued by CSF Pty Limited (ABN 30 006 169 286), (AFSL 246664) in its capacity as trustee of the Catholic Superannuation

More information

Superannuation Tips and Traps. Kim Guest / Tim Sanderson March 2014

Superannuation Tips and Traps. Kim Guest / Tim Sanderson March 2014 Superannuation Tips and Traps Kim Guest / Tim Sanderson March 2014 Disclaimer This presentation is given by a representative of Colonial First State Investments Limited AFS Licence 232468, ABN 98 002 348

More information

Application for benefit payment or transfer

Application for benefit payment or transfer Application for benefit payment or transfer Use this form if you want to cash in your benefit or transfer all or part of your super balance to another super fund. This form should not be used by temporary

More information

Understanding tax Version 5.0

Understanding tax Version 5.0 Understanding tax Version 5.0 This document provides some additional information to help you understand the financial planning concepts discussed in the SOA in relation to tax. This document has been published

More information

Contributions splitting

Contributions splitting Instructions for and subject form for super fund members Contributions splitting How to complete your Superannuation contributions splitting application. BEFORE COMPLETING THIS APPLICATION Contact your

More information

Superannuation: dealing with life s changes

Superannuation: dealing with life s changes Booklet 2 Superannuation: dealing with life s changes MAStech Smart technical solutions made simple Contents Introduction 01 Introduction 03 Accessing your superannuation benefits 04 Conditions of release

More information

Smart strategies for your super

Smart strategies for your super Smart strategies for your super 2010 Make your super count Superannuation is still one of the best ways to accumulate wealth and save for your retirement. The main reason, of course, is the favourable

More information

Application Form and Rollover Form

Application Form and Rollover Form Super Division Application Form and Rollover Form Version 21, Issued 1 July 2016 EXCEPTIONAL BENEFITS! Only Water Corporation employees have access to our super fund. So join today and don t miss this

More information

Investment Bond & Rollover

Investment Bond & Rollover Investment Bond & Rollover This report includes: Deferred Annuity Capital Guaranteed Collection Rollover Rollover Portfolio and Rollover Parking Fund Capital Guaranteed Collection Investment Bond Investment

More information

Understanding Tax Version 1.0 Preparation Date: 1st July 2013

Understanding Tax Version 1.0 Preparation Date: 1st July 2013 Understanding Tax Version 1.0 Preparation Date: 1st July 2013 This document provides some additional information to help you understand the financial planning concepts discussed in the SOA in relation

More information

Smart strategies for maximising retirement income

Smart strategies for maximising retirement income Smart strategies for maximising retirement income 2010 Why you need to create a life-long income Australia has one of the highest life expectancies in the world and the average retirement length has increased

More information

Things you should know

Things you should know Westpac Group Plan Defined Benefit Pension (including Spouse pension) Product Disclosure Statement (PDS) Dated: 1 July 2014 Things you should know The Westpac Group Plan Defined Benefit pension provides

More information

2014/15 Budget. 1. Changes effective 1 July 2013 (i.e., 2013/14 income year)

2014/15 Budget. 1. Changes effective 1 July 2013 (i.e., 2013/14 income year) 2014/15 Budget 1. Changes effective 1 July 2013 (i.e., 2013/14 income year) 1.1 Medicare levy low income thresholds For 2013/14, the Medicare Levy low income thresholds will be as follows: Individuals

More information