ID & Security
What details are verified in an authenticated call?
Member number & DOB.
What are concessional contributions?
Before tax contributions made into a member's super account.
"Why won't my super fund accept my non-concessional contributions?!"
The TFN has not been supplied.
What system must be used for a rollover in from a SMSF?
Superstream.
When is a name change required?
Minor change.
Major change.
Original info was deemed incorrectly by employer.
What types of authority do we have at AustralianSuper?
Personal / Professional / Financial Advisor
Guardianship / Administration Order
Power of Attorney
What does the work test check/confirm?
If a member is gainfully employed at least 40 hours in a consecutive 30-day period.
What must be advised/noted to the member when making a non-concessional contribution?
The payment must be from an Australian bank account in the member's name.
At the age of 85 what contributions can I make?
Downsizer contributions only.
90 days prior to receipt.
Are there any limits on what my verbal password can be? If so, what are they?
No there are no limits however letter case does not affect a verbal password.
When must a member meet the work test?
If aged 67-74 and claiming a tax deduction on personal contributions made into super.
What are the requirements and/or details regarding contributions made via cheque?
Bank all cheques on day of receipt.
Ensure it provides MBR#, name and address.
Ensure cheque is made out to AustralianSuper.
Must be in Australian dollars.
Sent to post office box address.
If AustralianSuper was QROPS registered, what impact would that have had on members and there rollovers?
They would be taxed at a rate of 55%.
What is the timeframe for processing a COMD form?
5-7 business days once all valid documents are received.
What must a letter contain to change/remove a password on the account?
What must you ensure before/when providing a Contribution Splitting form to a member?
Are they planning to rollout?
Are they planning to submit an NOI?
If yes, submit relevant documents along with the Contribution Splitting form and advise they must be submitted together.
Who can receive spouse contributions?
Any member who is:
Under the age of 75 or up to 28 days after turning 75.
Has an AustralianSuper account.
Has provided a TFN.
What is an ESA and why would a person need one?
Electronic Service Address.
Allows an SMSF to receive SuperStream data from employers and other funds.
What are the specific requirements for ID provided when adding a middle name?
Certified.
ID provided must contain full middle name, not just initial.
Can use birth certificate if photo ID does not contain full middle name.
MBR: "Hi, I have an account with yous and want to ask a few questions. Before I ask, I need you to stop recording the call. Don't worry, I am recording the call..."
CSO: What is your response?
Call must be recorded.
If they are still unwilling, their enquiry can be submitted via the website.
We cannot proceed if MBR is recording the call.
I have exceeded the cap but, the contributions I made to exceed the cap were made after 01 July 2021. What are my options? Am I liable to pay the ECC charge?
Leave excess in super.
Elect to release up to 85% of the excess concessional contributions.
Yes, but best to speak to the ATO to confirm.
"I am requesting a refund of a $5000 non-concessional contribution I made and am submitting the letter. How can I do that?"
Post or Fax/email provided the letter is signed and dated.
"Hi, I am 57 and my balance is at $2mil and I recently sold my family home for around $500,000. Can I make a Downsizer contribution?"
Yes, as the MBR is over the age of 55 and DS does not affect the $1.9mil balance cap.
Certified documents.
Guardianship documents.