The fund has been specifically designed to meet the unique
requirements of construction industry employees.
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ACIRT
provides security of employee's entitlements, as
employer contributions are required to be paid monthly.
Members’ entitlements are safe in the event of an
employer’s liquidation. |
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The
investment asset mix is 70% invested in cash / debt
securities and 30% invested in growth assets |
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ACIRT allows
employers to fund their employee's redundancy
entitlements as provided for under the various
industrial awards or enterprise bargaining agreements
(EBA). |
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ACIRT
distributes all its annual net income (surplus) back to
the members (it is mailed out at the beginning of July
each year |
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The income
available is calculated on the member’s daily balance,
in much the same way as many bank accounts. |
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The annual
income distribution is taxable in the hands of the
members, and must be declared as part of their yearly
income. |
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Redundancy
benefit payments are paid directly to the member by
ACIRT, either by cheque or by electronic fund transfer
to his or her nominated bank account. |
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ACIRT also
provides a 'funeral benefit' of up to $5,000 for
'eligible' deceased members. Dependants, family members
or other claimants must demonstrate financial hardship. |
Contacting ACIRT
Contact ACIRT on any of the following numbers/addresses:
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ENQUIRIES
1800 060 467 |
FAX
1300 655 119 |
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POSTAL ADDRESS
ACIRT Administration
Locked Bag 5040
Parramatta NSW 2124 |
STREET ADDRESS
Australian Administration Services
Level 12, 126 Church Street
Parramatta NSW 2150 |
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ACIRT
NATIONAL CO-ORDINATOR
Dennis Matthews
02 8837 5438
0418 206 989 |
WEBSITE
http://www.acirt.com.au/ |
Payment
of redundancy benefits and annual income distribution
If
you have been made redundant
On becoming redundant you are entitled to be paid a
redundancy benefit of the amount contributed into ACIRT by the
employer on your behalf.
“Redundant” is defined in the Trust Deed as:
'The termination
or cessation of employment of the member for any reason'.
How redundancy benefits are paid
Upon the employer and/or the member providing the ACIRT
administrator with the necessary details (i.e. completed claim
form and relevant documents), then 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 ACIRT administrator will process this payment within 3
business days from receipt of the completed claim form.
Employers or members can lodge the claim form with the
administrators by facsimile, mail or by hand delivery to one of
the listed offices of the Fund administrator.
Annual income distribution
Members receive a distribution if their account balance
returns an income of $ 50.00 or more.
This represents the ‘notional’ annual annual administration
member account-keeping fee paid.
The annual income distribution is taxable in the hands of the
members and any payment received by members should be included
in his or her tax return for the financial year just ended 30
June.
No action is required on your behalf. If you are eligible, a
cheque will be mailed to your last known address by no later
than 31 July.
