Submitting your TFN
Why does NSF Super require your Tax File Number (TFN)?
NSF Super is authorised to collect your TFN to be used for lawful purposes under the Superannuation Industry (Supervision) Act 1993 (Cth)*.
What happens if you don’t provide your TFN?
Declining to quote your TFN is not an offence. However, if you do not give your TFN to NSF Super*:
- NSF Super will not be able to accept any personal contributions from you, which also means you may miss out on the government co-contribution
- You may have to pay higher tax on the contributions your employer pays on your behalf
- You may have to pay higher tax on super benefits you withdraw from your account (however you may be able to claim this back at the end of the financial year in your income tax assessment)
- It may be more difficult to locate super accounts held in your name
*The lawful purposes for which your TFN can be used and the consequences of not quoting your TFN may change in the future as a result of legislative change.
How do you know if you have supplied your TFN?
It is likely that your employer has already provided your TFN to us, however you should confirm that we have your TFN by checking your member details through MemberAccess, or on the front page of your most recent annual super statement.