Why do I need to give you my TFN?


Superhero Team

May 26th 2021 3 minute read

It is not compulsory to provide your TFN, however if you choose not to do so, higher tax will apply to your concessional contributions, and we cannot accept personal contributions from you. Also, the tax on super benefits may be higher and it may not be possible to locate any lost super benefits or to combine your superannuation accounts or transfer your super benefits to another complying fund.

We are authorised to collect your TFN under the Superannuation (Supervision) Act 1993, Australian Taxation Act 1997, in compliance with the Australian Privacy Principles. TFNs are used for legal purposes only. This includes finding or identifying your super benefits where other information is not sufficient, calculating tax on super payments and providing information to the ATO. These purposes may change in line with legislation.

If you provide your TFN, we may provide it to another super fund or retirement savings account provider that receives any of your transferred super benefits in the future, unless you notify us in writing not to forward your TFN. Your TFN may also be given to the ATO.