FAQ: WHAT HAPPENS IF LOCAL SUPER DOESN’T HAVE MY TAX FILE NUMBER (TFN)? |
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If Local Super does not have your TFN you may pay more tax than you need to.
Thought it’s not compulsory, from 1 July 2007 the Commonwealth Government wants everyone to advise their super fund of their TFN.
If Local Super does not have your TFN, your concessional contributions such as salary sacrifice, employer and self- employed contributions may be taxed at 45% plus Medicare levy and Local Super will be unable to accept any non-concessional contributions. |
