Hostplus has put together a set of FAQs to help you get the most from your super this end of financial year.
Generally, your employer has to pay an extra 9.5% on top of your salary into your super fund. But did you know that by making extra contributions yourself, you can boost your super growth and you may be able to save money by lowering your taxable income?
Voluntary contributions with BPAY
Each Hostplus account has a unique BPAY reference number so you can make voluntary, after-tax contributions to your super. Check your Digital Member Card, your Member Online Account or your Hostplus statement to find your BPAY details today.
Salary sacrifice is a simple way to make ongoing contributions to your super from your pre-tax salary.
Complete a Direct Debit Authority form and return it to us via post to arrange regular contributions from your bank account to your Hostplus account. You can nominate to make bi-monthly, monthly, quarterly or yearly contributions.
If you are making a personal contribution to your Hostplus account and want this to be allocated to the 2017/2018 financial year, this contribution needs to be lodged by Monday 25th June.
You can make a personal contribution via BPAY or EFT. Your private BPAY and EFT details for your Hostplus account can be found on Hostplus Member Online
You’ll find the information you need under Voluntary Contributions in the Member section of the main menu.
If you need to access the MyGov portal to submit your tax assessment you will need to use the Hostplus fund ABN 68 657 495 890.
If you have changed funds in the last six months you may need to use the previous fund’s ABN.
Members aged up to 64 and those aged 65 to 74 who meet additional work-test criteria, may be able to claim a tax deduction for personal, after-tax, contributions.
Please note, if you are under 18 or over 75, additional restrictions may apply, visit ato.gov.au for more details.
Eligible members can download a Notice of intent to claim form from the ATO which can be posted to Hostplus via Locked Bag 5046, Parramatta NSW 2124.
If you wish to receive your statement via post, please update your communication preference online or contact us
Please note, statements ending 30 June 2018 will be available online and via post from September 2018.
From 1 July 2018 eligible members may be able to contribute additional funds to their super without impacting their contribution caps IF the contribution is made up of the proceeds of selling their home. The ATO has more information about the downsizer measure