The Commonwealth Government's 15% contributions tax is deducted from your concessional contributions.

The surcharge tax was abolished for contributions after 1 July 2005. This will not, however, affect any existing surcharge tax liability you may have incurred, or any surcharge assessments which have not yet been made for the tax years prior to 1 July 2005.

Investment Earnings

The Accumulation Division's earnings are taxed at a lower rate than most forms of savings. The maximum rate is 15%. No tax is payable on the investment earnings of the Account-Based Pension Division of the Fund.

Benefits

The taxation of benefits depends on your circumstances. Please see the section on taxation set out in the Accumulation Division Product Disclosure Statement and the Pension Division Account – Based Pension Product Disclosure Statement.

Contribution Notice

A contribution notice is required to be completed by those eligible self employed members wishing to claim an income tax deduction for the year ended 30 June 2008.