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Tax file number collection

Collection of TFNs is authorised by the tax and superannuation laws. By providing your TFN to your superannuation fund you will allow the trustee to use your TFN for purposes authorised by superannuation and tax laws.

The purposes currently authorised include:

  • withholding tax on benefit payments at concessional rates
  • passing your TFN to the ATO, and
  • allowing the trustee to provide your TFN to another superannuation fund or Retirement Savings Account (RSA) if your benefit is transferred to that fund. However, we will not do so if you advise us in writing that you do not want us to pass it on.

You are not required to provide your TFN. Declining to quote your TFN is not an offence, however, if you do not give your superannuation fund your TFN, either now or later:

  • we cannot accept contributions made by you or someone else on your behalf (other than your employer)
  • employer contributions (and certain other amounts) may be subject to an additional no-TFN tax at the rate of 31.5 per cent
  • you may pay more tax on your superannuation benefits than you have to (you may get this back in your income tax assessment), and
  • it may be more difficult to find your superannuation benefits if you lose contact with your superannuation fund.

As a result of legislative amendments, the lawful purposes for which your TFN can be used and the consequences of not quoting your TFN may change in future.