Tax benefits for your employees, we’re making some changes

We’re changing how we pass tax benefits back to your employees’ account

We’re changing the way that we pass the benefits of tax deductions (tax benefits) received by the MLC Super Fund (the Fund) back to your employees’ super account from 1 July 2025.

These tax benefit changes support our commitment to providing better retirement outcomes, like the reduction in administration fees for many members of the Fund, which was implemented recently.

This is for your information only, you or your employees are not required to take any action.

What are the changes?

Administration fees and insurance premiums charged to your employees account generate a tax benefit for the Fund in that financial year. Although we are not required to do so, currently, we pass these tax benefits back to your employees’ accounts, effectively reducing these fees and premiums by up to 15%. This applies whether concessional contributions are made to their account or not.

From 1 July 2025, we will continue to pass the tax benefit generated by administration fees and insurance premiums to your employees’ super accounts, but up to a maximum amount of the tax on their concessional contributions. Concessional contributions include Superannuation Guarantee and salary sacrifice contributions, and any personal contributions that your employees claim as a tax deduction.

Administration fees and insurance premiums that are paid by the employer will continue to receive the full tax benefit, for example within the plan reserve (regardless of the level of concessional contributions to the reserve), or in the employee’s account if they are reimbursed by an employer contribution.

How we will communicate with your employees?

A letter or email will be sent to your employees with all details of the changes. You can find a copy of the member letter here.

As always, we’re committed to providing the best products, outcomes and services for you and your employees.

If you have any questions, please call us on 132 652 between 8am and 6pm (AEST/AEDT) Monday to Friday.