Transfer of funds from ACIRT
Posted on Dec 16, 2020
Your fund, the Plumbers and Pipe Trades Entitlement Fund (PPTEF) is powered by Australia's biggest and best-known entitlement fund, Incolink. We are the safety net for workers in the construction industry.
As a PPTEF member, you deserve to have your entitlement fund work as hard as you do.
We're there when you need us, with fast processing and no tax withheld when you are made genuine redundant. We invest in technology and employ the best people to process your claim quickly.
We’ve had a couple of questions which we can answer straight up for you.
Is there a delay when I transfer my funds?
There are no delays from the PPTEF in processing your funds once we receive them. We are seeing delays in your money leaving your previous ACIRT account and being sent to us. It’s just the way their processes work.
This may delay you seeing your redundancy in your PPTEF account. Rest assured, our dedicated staff, and technology, ensures our processing time is 24 hours on business days from when we receive the funds. Your entitlements are safe.
What's a Genuine Redundancy and why is it tax-free?
As a PPTEF member, it is the reason your job ends that determines whether we withhold tax for the ATO or not.
When you are made genuinely redundant you can access your money with zero tax withheld.
ACIRT withhold tax, whatever the reason for your departure, reducing the amount you have paid to you at the time of claim.
We are there when you need us the most, with faster claims processing putting more money in your hand at the time of claim.
We appreciate that delays can be painful and we’re here to help. Give us a call if you have any questions 1300 346 033. We are here to help!