Paying tax and superannuation

Early access of superannuation due to COVID-19

In response to COVID-19, the Commonwealth has announced that eligible individuals will be allowed to access up to $10,000 of their superannuation in 2019-20 and a further $10,000 in 2020-21.

If you have an accumulation account with a regulated superannuation fund, you may wish to discuss your options with your fund provider.

For more information go to the Australian Government's Australian Taxation Office website.

This page gives workers in the Northern Territory (NT) information about income tax and superannuation.

Tax

Each time you get paid by your employer, some of the money is sent to the government as income tax.

When you start a job, you will need to give your tax file number to your employer.

Your rate of tax will be calculated based on how much you earn.

Read about starting a job, tax and payslips on the Australian Government's MoneySmart website.

Read about tax rates and tax returns on the Australian Government's Australian Taxation Office website.

Superannuation

Superannuation or 'super' is a way of saving money for your retirement.

Your employer must pay a proportion of your salary into a super fund.

Read about super on the Australian Government's MoneySmart website.

Lost super

Many people change jobs or addresses and lose track of their super.

If you think you have lost super, go to the keeping track of your super page at the Australian Government's Australian Taxation Office website.

The Territory Revenue Office holds unclaimed money for former NT Government employees who were members of the NTGPASS or NTSSS schemes and have passed retirement age. For more information contact the Territory Revenue Office.


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