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The BT Super for Life $50 cash bonus offer
This offer is available for a limited time, to 30 September 2008.
To be eligible for the $50 Cash Bonus (Cash Bonus), you must have opened a BT Super for Life account from 1 June 2008 and have a BT Super for Life account balance of at least $50 by 30 September 2008.
Only one Cash Bonus payment applies per customer.
If you hold a BT Super for Life – Savings account and do not instruct us otherwise, the Cash Bonus will be paid into your BTSFL – Savings Account as a personal contribution. If you have a BT Super for Life – Savings account and would like your Cash Bonus to be paid into your Westpac bank account you must email us at btsuperforlifeoffer@btfinancialgroup.com within 5 working days of your super account balance reaching $50, and provide your full name, Westpac account number and BSB of your nominated Westpac bank account as well as your BT Super for Life account number. Payment of the Cash Bonus can take up to 8 weeks to process from the date we receive your email with all the required details. If you only hold a BT Super for Life – Transition to Retirement or BT Super for Life – Retirement account, the cash bonus will be paid to the Westpac bank account you nominated in that application. Payment of the Cash Bonus can take up to 8 weeks to process from the date when your BT Super for Life account reaches a balance of $50.
If the $50 Cash Bonus is paid into your BT Super for Life – Savings account, being a superannuation account, it will be classified as a personal contribution, which is counted toward your non-concessional cap. No tax is deducted from the contribution into BT Super for Life unless your relevant non-concessional cap is exceeded. There are caps, set by the government, on the amount of money you can add to superannuation each year on a concessionally taxed basis. The cap is $150,000 per person per annum for non-concessional contributions. Those under 65 can "bring forward" future entitlements to two years" worth of personal contributions allowing them to contribute up to $450,000 per person over a three year period. The maximum rate of tax on earnings in a BT Super for Life – Savings account is 15%.
To be eligible to receive the $50 Cash Bonus into your BT Super for Life - Savings Account you must be either under 65 years of age or, if 65 -75 years, have worked, at least on a part-time basis, in the financial year in which you receive the Cash Bonus. The taxation position described here is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and their interpretation. Your individual situation may differ and you should seek independent professional tax advice on any taxation matters.
BT reserves the right to end, withdraw or extend this promotion at any time. Superannuation is a long-term investment.
All contributions to a superannuation fund are preserved. The Government has placed restrictions on when you can access your preserved benefits. In general, your benefits will not be paid until you reach age 65, or you reach your preservation age and have permanently retired from full or part-time gainful employment.
BT Funds Management Limited ABN 63 002 916 458, AFSL No. 233724, RSE No. L0001090 is Trustee of BT Super for Life ABN 53 398 474 034, RSE No. R1071221.
A Product Disclosure Statement is available for BT Super for Life and can be obtained by visiting www.btsuperforlife.com.au or visiting any Westpac branch. You should consider the Product Disclosure Statement (PDS) before deciding whether to acquire, continue to hold or dispose of interests in BT Super for Life. An investment in BT Super for Life is not an investment in, deposit with or any other liability of Westpac Banking Corporation ABN 33 007 457 141 (the Bank) or any other company in the Westpac Group. It is subject to investment risk, including possible delays in repayment of withdrawal proceeds and loss of income and principal invested.
The Bank is not the issuer of BT Super for Life. Neither the Bank nor any other company in the Westpac Group stands behind or otherwise guarantees the capital value or investment performance of BT Super for Life. This information has been prepared without taking account of your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation and needs.
The information is current as at 1 July 2008
General advice on this website has been prepared without taking into account your objectives, financial situation or needs. Before acting on the advice, consider its appropriateness. Consider our disclosure documents, which include Product Disclosure Statements (PDS) for some products. The PDS is relevant when deciding whether to acquire or hold a product. View our ABN & RSE Numbers for Superannuation entities.
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