Making after-tax contributions
How can I make an after-tax contribution?
There are a number of ways this can be done:
BPAY
Use your internet or phone banking service to transfer funds directly to us using the following details:
Biller code: 646596
Customer Reference Number (CRN): your unique customer reference number.
To find out your unique customer reference number click on the link above, then input your surname and member number.
Direct credit
Use your internet or phone banking service to transfer funds directly to us using the following details:
Account name: Russell
BSB code: 014 988
Account number: your unique customer reference number
To find out your unique customer reference number click on the link above, then input your surname and member number.
Cheque
To make a one-off, after-tax contribution by cheque simply complete Your Contribution By Cheque form.
Remember that if you send a cheque you need to ensure it is either a money order, bank cheque or a personal cheque from an account in your name.
Payroll
For regular deductions taken directly from your pay contact your Payroll or Human Resources department. However, you should be aware that only contributions received before 30 June 2009 will be reported to the Australian Taxation Office for the purposes of receiving a Co-contribution, so please check with your employer if they will send your contribution to us before this date.
What is the last day I can make a contribution and still be eligible for the Government Co-contribution?
Russell must receive your voluntary contribution by 30 June 2009. Any contributions received after this date will not be reported to the ATO until the close of the following financial year. It is important that you factor any postal delivery or electronic processing times when making your contribution. Ideally, you should attempt to have your contributions to us by 23 June 2009 to ensure delivery and processing time.
Am I able to bring the cheque to your office?
Unfortunately we are not able to accept cheques in person. If the deadline is approaching and you want to make an after-tax contribution, please transfer money to us electronically as outlined above.
How can I find out if you have received my contribution?
You are able to confirm any recent after-tax contributions that you have made by logging into the website and checking your transaction summary. Alternatively, you can contact the fund on 1800 555 667. Given the increase to the number of members making contributions, it is important that you allow at least 1 week before checking whether your contribution has been received.
What else do I need to be aware of?
You should also be aware that after-tax (non-concessional) contributions are subject to contribution limits, as determined by the Federal Government. The limit for the 2008/09 financial year is $150,000. If you are under 65 you are able to bring forward two years of contributions.
Any contributions made over the limit will be taxed at the highest marginal rate plus Medicare levy. For further information regarding contribution limits you can also contact the Australian Taxation Office on 13 10 20.
1800 555 667
Fact sheets
Salary sacrifice vs after-tax contributions
Super Co-contibutionContribution limits Concessional contribution limits for Defined Benefit Members