LOGIN Fees and taxes Fees Just like most super funds we deduct some money from your account to cover the cost of looking after and investing your super. Because we’re a profit-to-members fund, our fees are set to cover our costs only. We don’t pay dividends to shareholders which means we return more to you through lower fees and charges. Before making any decision about your super, it’s important to consider that fees are only one part of the bigger picture. What’s best for you will depend on your personal situation. For more info about the types of fees we charge, watch the video below. Type of fee Amount How and when paid Investment fee2,3 High Growth1 0.37% Growth 0.35% Conservative Balanced1 0.27% Stable 0.24% Australian Shares 0.10% International Shares 0.08% Property 0.08% Bonds 0.20% Cash 0.08% Term Deposit 0.00% We generally calculate and deduct this fee daily when unit prices are determined. Administration fee2 $1 per week + 0.16% pa. Percentage fee is zero for Term Deposit. We generally deduct the dollar-based administration fee on the last day of the month from your super account balance. We generally calculate and deduct the percentage based administration fee when unit prices are determined. Buy-sell spread Nil Switching fee Nil Advice fees We offer a complimentary appointment with a financial adviser for all members and personal advice fees are up to a maximum of $2,750. You can choose to have the portion of the advice that is super related deducted from your super account and be invoiced the remaining amount, or you can choose to have the full amount invoiced. Other fees and costs4 Nil Indirect cost ratio2,3 High Growth1 0.21% Growth 0.28% Conservative Balanced1 0.40% Stable 0.37% Australian Shares 0.00% International Shares 0.07% Property 0.14% Bonds 0.14% Cash 0.00% Term Deposit 0.00% This is an estimate of the annual indirect cost ratio for each investment option. The actual costs are deducted from the return paid to the Fund when each unit price is determined. 1 If you’re invested in the MySuper Lifecycle Investment Strategy, you’ll be invested in a mix of the High Growth and Conservative Balanced investment options based on your age. Your fees will be weighted across these investment options according to this mix. Read our Fees information factsheet for how you’ll be affected at different ages. For more information about the Lifecycle Investment Strategy read our Lifecycle Investment Strategy factsheet. 2 If your account balance for a product offered by the superannuation entity is less than $6,000 at the end of the entity’s income year, the total combined amount of administration fees, investment fees and indirect costs charged to you is capped at 3% of the account balance. Any amount charged in excess of that cap must be refunded. 3 The investment fees and indirect costs shown are estimated by reference to investment related fees and costs, including underlying investment manager costs, incurred for the 12 month period to 30 June 2021. Accordingly, actual investment and indirect costs over the current period of the PDS will vary based on actual fees and costs incurred in that period. 4 We may apply other fees and costs which relate to family law splits, answering subpoenas, advice fees for personal advice, insurance fees and term deposit early withdrawal fees. See the Fees information factsheet for further information. Tax Your super is taxed when you put money in, on your investment earnings and in some cases, when you take it out if you’re under age 60. Tax on the money you put into super Before-tax contributions, which include the compulsory 10% superannuation guarantee contributions your employer makes for you, are taxed at 15% if you earn less than $250,000 and 30% if you earn over $250,000. If you earn $37,000 or less per annum you may be eligible for a low income super tax offset. Any after-tax contributions you make aren’t taxed when you put them into super as you have already paid tax on that money. If you claim these contributions as a tax deduction they will be taxed at 15%. Tax on your investment earnings Investment earnings within your super are taxed up to a maximum of 15%. You may pay extra tax if you: contribute more than the contribution cap for each financial year don’t give us your Tax File Number. Withdrawal tax Tax law requires us to deduct tax before paying your super to you. Your super is divided into a tax-free component, which mainly consists of any after-tax contributions you’ve made, and a taxable component, which is the rest of your account. Your super fund calculates these components when you make the withdrawal. You can't choose to simply withdraw the tax-free component on its own. The table below shows what tax applies depending on your age and tax components. You won’t have to pay any tax if you’re accessing your super within 24 months of being certified as suffering from a terminal illness. What tax you pay on withdrawing your super Your age Taxable component Tax-free component Age 60+ 0%. You don’t need to include this in your tax return. 0% Preservation age to age 59 0% up to a maximum lifetime low rate cap of $225,000 for 2021-22 financial year. Withdrawals above this threshold are taxed at your marginal tax rate or 17%, whichever is lower, which includes the Medicare Levy. This money is treated as assessable income and therefore could affect your HELP debt payments and Medicare Levy surcharge. 0%, including any benefit withdrawn due to terminal illness. Under preservation age Taxed at your marginal tax rate or 22%, whichever is lower, which includes the Medicare Levy. This money is treated as assessable income and therefore could affect your HELP debt payments and Medicare Levy surcharge. 0%, including any benefit withdrawn due to terminal illness. If you die* 0% if paid to a tax dependant of any age. *Complex rules apply to death benefit payments to non-tax dependants. A death benefit can be paid as a lump sum or, for some types of dependants, as a death benefit income stream. 0% * Under super law, children are considered dependants and can receive a death benefit. However, tax law doesn’t treat adult children as dependants unless certain criteria are met. For more information about this criteria, you can call the Australian Taxation Office infoline on 13 10 20. Compare us See how Mine Super stacks up against other super funds on things like investments, fees, insurance and services. Use the free Chant West AppleCheck comparison tool below. I accept the terms and conditions detailed below Terms and conditions You will be linked to the Chant West website. Chant West AppleCheck is provided solely by Chant West Pty Limited ABN 75 077 595 316 and not by Mine Super or by Chant West acting as Mine Super agent. Accordingly, Mine Super accepts no responsibility for the accuracy, quality or fitness of the information or services provided by Chant West. Chant West AppleCheck is being provided to you for no charge at the request and cost of Mine Super. Accordingly, Chant West will provide Mine Super with a copy of the personal information you provide above. In all other respects, Chant West will treat the personal information you provide in accordance with its Privacy Policy. Chant West may provide Mine Super with a copy of the personal information you provide to access AppleCheck. Mine Super may use this information to contact you and provide further details about the products and services we offer. In all other respects, Mine Super will treat this personal information in accordance with our Privacy Statement. Mine Super may purchase products from Chant West on commercial terms but isn't a shareholder in Chant West and has no influence over the research results and ratings. The information is not a substitute for financial advice. It doesn't take into account your objectives, financial situation or specific needs. You should consider seeking advice before acting on any of this information. If you have a choice about whether to join this Fund you should first consider our Product Disclosure Statement, which you can download from this website or call 13 64 63 to request a copy. If you need personal financial advice Mine Super Financial Advice can help. The fully qualified advisers can look at your financial position and put in place strategies specifically tailored to your circumstances and needs. Call 13 64 63 to speak to an adviser or arrange a face to face meeting at one of the many regional centres of Queensland, New South Wales, Western Australia and Tasmania. Email us Sign up Contact us MySuper Product Dashboard About us Super PDS Pension PDS Privacy Policy Financial Services Guide Contact us Complaints Issued by AUSCOAL Superannuation Pty Ltd ABN 70 003 566 989 AFS licence 246864 Trustee for the Mine Superannuation Fund ABN 16 457 520 308. This is general information only and does not take into account your financial situation, needs or objectives. Before acting, consider if the information is right for your needs and circumstances and read the relevant Product Disclosure Statement. The Target Market Determinations (TMD) for our financial products can be found at mine.com.au/tmd. This information is based on our understanding of current Australian laws and assumes they will remain unchanged. Any links to external sites are for information purposes only and are not an endorsement. We take no responsibility for the content. Advice is provided by Mine Super Services Pty Ltd ABN 49 051 315 014 AFS licence 502700.