Upon the ACIRT member providing the administrator with the necessary details i.e. completed claim form and relevant documents, then the redundancy benefits will be paid directly to the member either by cheque or electronic fund transfer, whichever method of payment is nominated on the claim form. The administrator will process payment within 3 business days from receipt of the completed claim form.
ACIRT redundancy benefits paid to Members are generally classified as an ‘Employment Termination Payment’ (ETP) that is taxed in accordance with the concessional age based rates.
Claim Forms (and supporting documentation) can be lodged with the administrator by facsimile, mail or by hand delivery to one of the listed offices of the Fund administrator.
For more information see your
Member Information Booklet.