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Question

Do any tax rebates apply to my account?

Answer

The Fund receives a tax deduction for management, administration and insurance costs. As result of this, a tax rebate is applied to insurance premiums deducted from a member's account. The rebate is paid at 30 June each year, or on exit from First State Super.

Removal of tax rebate on administration fees from 1 January 2009

The Fund receives a tax credit in respect of the administration fees paid by members to meet the operating costs of the Fund. In the past, each year on 30 June or when a member exited the Fund, a tax credit equal to 15% of the administration fees paid by the member was credited to their account. The maximum amount credited to the account of a member who has been in the Fund for a full year was 15% of $52 or $7.80.

The Trustee ceased this arrangement and no adminsitration fee rebate will be provided after 1 January 2009. Members who exited the Fund on or before 31 December 2008 received a proportional tax credit on exit.

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