Tax changes that came into effect on 1 July 2012; including an increase in the personal tax rate from 15% to 19% where you have not claimed the tax free threshold.
How to claim the tax-free threshold:
I want to change my payment details – what must I do?
To update your payment details please contact us directly.
We need the following information when you call:
- your name
- your member reference number
- your date of birth
- your address
- current payment details (BSB and account numbers)
- name of your new financial institution
- new payment details (BSB and account numbers).
You may need additional information to confirm your identity.
For privacy reasons, we ask you to confirm your old details when you call.
Do not close your old account until you receive payments into your new account.
Generally, we need eight days prior to your next pension payday.
I want to change my tax details – what must I do?
You may need to advise DFRDB of changes to how tax is administered for your pension which may relate to your tax-free threshold, offsets or deductibles.
Please complete the relevant Australian Taxation Office form and return it to us.
If you wish to change how much voluntary tax is deducted from your pension payments, please notify DFRDB in writing of your amended amount (but please note you cannot reduce your tax to an amount less than that required by law).