Tax File Numbers and your Superannuation Fund

Last updated June 2011

Changes to superannuation laws have made it more important to ensure that your super fund has your tax file number (TFN).

Under the laws that began on 1 July 2007, when a TFN has not been supplied, all before tax contributions - which includes superannuation guarantee contributions made by employers, salary sacrifice contributions and contributions by the self-employed - above $1,000 will be taxed at the highest marginal tax rate plus Medicare levy. All before tax contributions made to super fund accounts opened after this date will also be taxed at the highest rate regardless of the amount contributed.

Providing your TFN to your super fund may also benefit you in other ways. Many super funds lose contact with members over time and when a super fund loses contact with a member they are often required to pay the money they hold for that member to the Government. The Government is proposing to use TFN's as a way of locating members so their money can be returned to them.

In the interim, if you think that you might have some lost superannuation money, you can do a check at: Super Seeker