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Taxation of superannuation funds

The importance of tax file number (TFN)

Section: 11.2

11.2 The importance of tax file number (TFN)

For the financial year 2021-22, a fund must pay tax at the rate of 47% on no-TFN contributions income that is contributions paid to the fund where a TFN has not been provided.

This technical resource is intended for the use of financial advisers only. It is current as at the date of publication but may be subject to change. This publication has been prepared without taking into account a potential investor's objectives, financial situation, needs or objectives. Before making a recommendation based on this material, you should consider its appropriateness based on the client's objectives, financial situation and needs. Rainmaker Group is not a registered tax agent under the Tax Agent Services Act 2009. Your client should refer to a registered tax agent before relying on information published herein that may impact their tax obligations, liabilities or entitlements.

Last modified: Monday, July 12, 2021