The end of the financial year is fast approaching, so we’d like to remind our members and employers of their options for submitting transaction requests at this time.
For a transaction to be processed within the 2009 financial year and be included in your 2009 annual statement, we need to receive a complete transaction request in any Asteron office by 5pm on Tuesday 30 June 2009.
This applies to the processing of contributions, updates to personal details, Tax File Numbers (TFNs), Policy Committee details, withdrawals and transfers to other funds. Please note that switch process will be the same as always.
This table sets out the cut-off times for submitting contributions on 30 June 2009.
|Payment method||What you need to know||Cut-off time on Tuesday 30 June 2009|
|Cheques||Valid cheques must be received in any Asteron office by the cut-off time.||5pm (local time)|
|Electronic Fund Transfers||Transferred funds must be correctly referenced and in our bank account by the cut-off time.||5pm (Sydney time)|
|BPay© Transfers||Transferred funds must be in our bank account by the cut-off time.||5pm (Sydney time)|
A transaction request received after 5pm on Tuesday 30 June 2009 will be processed with an effective date of 1 July 2009 or later.
If you have questions about our year-end processes and timing, please contact your adviser or speak to our Customer Service team. They’ll be happy to help.
If you haven’t provided us with your TFN, you’ll pay an additional 31.5% tax on all your concessional super contributions - including any future contributions. This means you could pay 46.5% tax on certain contributions. To avoid paying more tax than necessary, provide us with your TFN before 5pm on Tuesday 30 June 2009.
Supplying your TFN is easy. Just call us or email your TFN to firstname.lastname@example.org.
If you haven’t provided us with your employee’s TFN by 5pm on Tuesday 30 June 2009, you may be subject to penalties by the Commissioner of Taxation unless they have specifically requested that it be withheld. Your employee will pay an additional 31.5% tax on concessional contributions. This is in addition to the normal 15% contributions tax.
It’s easy to provide us with an employee’s TFN. You can:
Asteron Life™ is committed to providing customers with long term financial security. We provide life insurance products including Income Protection Covers, Trauma Cover, Total & Permanent Disablement (TPD) Cover, Life Cover and Business Expenses Cover. To obtain a copy of our privacy statement, please contact us on 1800 221 727 or visit the following website www.asteronlife.com.au/privacy to view or download the policy.
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