12 Nov 2008

Make sure your super contributions are allocated to the right account by providing the relevant information to HESTA.

To make a contribution to the account of a new employee who has just joined HESTA, or doesn’t have their member number, you’ll need to provide:  

• the member’s full name
• their date of birth
• their address

To make super contributions for existing HESTA members — either new employees or staff for whom you’ve made contributions in the past — you’ll need to provide:

• the employee’s HESTA member number
• their full name
• their date of birth

Unless you provide these details, we can’t allocate the funds to members’ accounts. Please make sure you give us the right details for all employees.

No TFN? Super taxed at 46.5%

If you fail to provide a member’s TFN to HESTA, not only may you be in breach of the law, but the employee contributions you make to that member’s account may be taxed at 46.5%. If you provide members’ TFNs, those contributions will be taxed at just 15%, and members will be able to make after-tax contributions themselves.

Make sure you’ve provided TFNs for:  

• employees who completed a TFN declaration for employment purposes from July 1 2007
• all new employees
• pre-July 2007 employees who provided you with their TFNs for superannuation purposes

Tax-free super for the terminally ill

Terminally ill Australians are able to access their super as a tax-free lump sum. These provisions can give relief to those going through difficult times, enabling them to meet immediate needs and help their families prepare for the future.

If any of your employees are diagnosed with a terminal illness, they may be able to access their HESTA super. For HESTA to release the member’s super, the following conditions must be met:

• two registered medical practitioners have certified, jointly or separately, that the person suffers from an illness or injury that’s likely to result in the death of the person within a period of 12 months (the certification period)
• at least one of the medical practitioners is a specialist practising in an area related to the illness or injury suffered by the person
• for each of the certificates, the certification period has not ended

For more information, or to make an application to receive their super as a lump sum, members can free call 1800 813 327.

Contact Details