Get ready for the end of the 2023-24 financial year

With tax time fast approaching we’re here to help. Here’s a quick overview of some key information to help you prepare.

Depending on the type of product you hold with Resolution Life, you may find what you need in the My Resolution Life portal.

Have you registered to the My Resolution Life portal?

We’ve recently introduced improvements to the My Resolution Life portal to make it easier to access relevant information to assist with your end of financial year obligations. At the touch of a button, you can instantly download your Certificate of Currency, request your Centrelink Schedule and view your latest Income Protection (IP) tax statements.    

Register for My Resolution Life now if you haven’t used it before.  

Log in or Register now 

Certificate of Currency

The Certificate of Currency is a summary of your policy. It is used to confirm that you (the holder) have a valid insurance policy and outlines the terms and conditions of your coverage.

You can now download and view your Certificate of Currency instantly from the portal. After logging in, you’ll land on your dashboard (the page that displays after you log in). Select More details on the right-hand side of the screen. From the policy dashboard, select Documents & Forms à Certificate of Currency from the left-hand side. Once you click on Download certificate, you will be able to view the document straight away for most of our products.

Centrelink Schedule

A Centrelink Schedule is one of the documents used by Centrelink to determine your Age Pension entitlements. Read more about the Age Pension and eligibility requirements.

You can now request a copy of your Centrelink Schedule within the portal. After logging in, you’ll land on your dashboard (the page that displays after you log in). Select More details on the right-hand side of the screen. From the policy dashboard, select Documents & Forms à Centrelink schedule from the left-hand side. Once selected, you can request a copy of the document.   

Income Protection (IP) tax statements

All IP tax statements will be available to download by the end of August 2024. After logging in, you’ll land on your dashboard (the page that displays after you login). From this screen, you can click on Statements and correspondence on the left-hand side of the screen -> View Statements and correspondence. This screen will allow you to download your statement.
 

Making your 2023-24 contribution

If you wish to make any further payments or personal contributions this financial year, you will need to submit all contribution forms and payments by 21 June 2024 to make sure that your contributions count within the current financial year. Find out more about making contributions to your super.   

It’s important not to leave this to the last minute, as most super funds take three to five business days to process payments and application forms. If you are unsure of your financial institutions processing time, please contact them directly, otherwise, your contributions may count towards the next financial year.

Under law, from 1 July 2023 the percentage of your base earnings that your employer puts into your super is 11%. From 1 July 2024, this amount will increase to 11.5%.      

Access the Employer contributions calculator to work out if your employer is paying you the correct amount of super.

If your super guarantee contributions are currently paid into another super fund and you would like them paid into your Resolution Life super account instead, you can access the below form and provide to your employer.   

Choice of superannuation form

Your latest annual statement from your super fund will help you complete this form, as you will need to provide:
•    Your super fund name
•    Super fund Australian business number (ABN)
•    Unique superannuation identifier (USI) number
•    Your account number and 
•    Your name as it appears on your account.