You are not obligated to provide your TFN to your superannuation fund,. However, if you do not provide your TFN, your funds may be taxed at the highest marginal tax rate plus the Medicare Levy on contributions made to your account in the year, compared to the concessional tax rate of 15%. Your Fund may deduct this additional tax from your account.

If your superannuation fund does not have your TFN, you will not be able to make personal contributions to your superannuation account. Choosing to quote your TFN will also make it easier to keep track of your superannuation in the future.

In the superannuation Industry (Supervision) Act 1993, your superannuation Fund is authorised to collect your TFN, which will only be used for lawful purposes. These purposes may change in the future as a result of legislative change. The TFN may be disclosed to another superannuation provider, when your benefits are being transferred, unless you request in writing that your TFN is not to be disclosed to any other Trustee.

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Temporary Residents

From 1 April 2009 members who are, or have been a temporary resident, are generally restricted in the manner in which they can access their superannuation.

The ATO will periodically issue temporary resident reports to superannuation funds who are required to transfer all amounts held in those member's accounts, to the ATO. If required, the Trustee will transfer any unclaimed superannuation of temporary resident's to the ATO.
Under relief granted by ASIC, exit statements are not required to be sent to the members advising that their account has been transferred to the ATO. WALGSP will be relying on this relief.

If a temporary resident subsequently contacts the fund, information about the payment to the ATO will be provided. Please note that any temporary resident has the right to contact the ATO and make an application to it requesting payment of any transferred unclaimed superannuation.