LIFE INSURANCE SUPERANNUATION RETIREMENT INCOME
 
     
 

We need your Tax File Number (TFN)


New superannuation legislation means it is important we have a record of your TFN.

If you have not provided us with your TFN:

  • we cannot accept certain voluntary, after tax contributions,
  • you may be paying penalty tax rate of 31.5% on concessional (before tax and employer) contributions, and
  • your life insurance policy through a super fund may be cancelled.

Supplying your TFN is easy. Just complete the online form.

Alternatively, you can call Asteron:
Superannuation clients: 1800 819 499 (Monday to Friday, 8.30am-6.30pm EST time)
Life insurance clients: 1800 221 727 (Monday to Friday, 8.00am-7.00pm EST time).

What you need to know about providing us with your TFN
We are authorised to collect your TFN under the Superannuation Industry (Supervision) Act. Where we collect your TFN, it will be kept confidential and only used for lawful purposes which may include:

  • finding or identifying your superannuation funds
  • calculating tax on any superannuation benefits paid
  • providing your TFN and other information to the Commissioner of Taxation
  • providing your TFN to your future superannuation fund trustee or Retirement Savings Account (RSA) provider if you are transferring your account. We will not pass on your TFN if you write to us and tell us not to.

We will not disclose your TFN to anyone else.

Providing your TFN is voluntary and declining to quote your TFN is not an offence. However, if you do not provide us your TFN, then:

  • you may pay more tax on your benefits than would otherwise be payable (you may get this back at the end of the financial year in your income tax assessment)
  • we may no longer be able to provide you with insurance cover, and your Asteron insurance policy may be cancelled.
As a result of recent changes to the law, the purposes for which we can use your TFN and the consequences of not providing it to us may change in the future.

Back to top