FAQs

What is Centuria LifeGoals

Centuria LifeGoals is an investment product that allows you to access 31 investment options including low cost index funds, best of breed active managers and ESG Funds. The funds pay tax at a maximum rate of 30% less allowable deductions on behalf of investors. As tax is paid within the fund, investors do not have to declare fund earnings in their tax returns.

How do I start my Investment?

Investments can be made with as little as $500 through an easy to complete online application process.

Within the online application, Centuria has included a “Green ID” system, where an Investor’s identification can be verified within seconds, making the online application process even quicker.

Please read the PDS and consider using the Centuria LifeGoals Investment Forecaster Tool.

Can I add to my initial investment and what is a regular savings plan?

The minimum an investor can invest, in an individual investment option is $500, and there is no limit on how much an investor can invest during the 1st year.

Investors can choose to set up a regular savings plan, whereby Centuria will direct debit from your nominated bank account a set amount at a frequency at your choosing, being either Monthly, Quarterly or Annually.

Alternately, Investors can complete an online additional application form available in Centuria Investor and funds can be transferred by either BPAY or Electronic Funds Transfer (EFT).

You can add up to 125% of the previous year’s total contributions without resetting the start date of your investment. This is known as the 125% rule.

This allows you to invest more every year and grow your portfolio. For example, if an Investor invested $100,000 during the 1st year, they could invest a maximum of $125,000 in the second year without having to reset their initial investment date.

Can I access my funds at any time?

Yes, you can. Withdrawal requests are paid directly to your nominated bank account within 14 days of receiving your request.

What is the tax treatment of withdrawals and can I withdraw before 10 years?

An investor in Centuria LifeGoals can withdraw all or part of their investment at any time.
If you withdraw prior to the 10-year investment period, you will normally only pay tax on the difference between 30% and any higher marginal tax rate applicable to you in that financial year on your earnings. In years 9 and 10 this difference is discounted by one-third and two-thirds respectively. However, no additional tax may be payable if a withdrawal is made in the following exceptional circumstances (regardless of whether it is made within or after 10 years): death, accident, serious illness or other disability affecting the Life Insured.

What is the tax treatment of withdrawals and can I withdraw after 10 years?

After ten years you pay no tax on withdrawals regardless of your personal tax rate.

Do I need to provide my tax file number and declare yearly income in my annual tax return?

No

What does ‘tax paid’ investments mean?

Centuria Life pays tax on the earnings attributable to the product rather than the underlying investor. The Investment Options are a type of tax-paid investment. This means an Investor does not need to include the investment earnings in their personal tax return.

What are the investment options?

Centuria LifeGoals offers a carefully selected range of 28 externally managed investment bond  options across a range of risk profiles. The Centuria Life Investment Committee conduct extensive research in the fund selection process to deliver access to high quality fund managers in their sectors. Investors have access to investments across a range of asset classes being, Cash, Fixed Interest, Australian Shares, International Shares, Property and Infrastructure.

Additionally, there are three multi-manager Investment Options available that are managed by Centuria Life. The External Managers and underlying investments in each of the Investment Options have been selected based on the screening and asset allocation by the Centuria Life Investment Committee.

Why choose Centuria LifeGoals?

Flexibility
Life is unpredictable and you never know when you might need to access your money (or simply want to start spending sooner). With the flexibility of Centuria LifeGoals, you can make withdrawals at any point and you don’t have to wait until retirement.
Simplicity
It is easy to set up your investment and a regular investment plan via our online application form. Plus you don’t have to declare earnings from your investment in your annual tax return or keep any ongoing tax records while your investment is held. We will send you an annual statement and regular confirmations to keep you updated on your investment.

Can I assign/ transfer my investment without tax implications?

Yes, you can transfer ownership of your Centuria LifeGoals investment at any time without tax implications.

This can be completed by using the Memorandum of Assignment form that can be found in the PDS & Forms section of the Centuria LifeGoals website.

Can I switch in-between investment options and are there any personal tax consequences?

Yes, you have the flexibility to switch between investment options and you will pay no personal income tax.

This can either be completed online via Centuria Investor or by using the Application to Switch form.

What is a Child Plan?

A Child Plan is a feature of Centuria LifeGoals, where you can invest for children below the age of 16 years as an endowment, whilst maintaining full ownership, control and access, until ownership automatically transfers to the nominated child when they reach the Vesting Age nominated by you.

The Vesting Age must be between 10 and 25 years of age.

How can I use LifeGoals as an estate planning tool?

Because LifeGoals is technically a life insurance policy you can take the advantage of this feature and select a person (Life Insured) upon whose death your investment will mature and become payable. You can also nominate one or more beneficiaries (Nominated Beneficiaries) who will receive the proceeds from your Centuria LifeGoals investment tax free in the event of your death.

You can also use the assignment (transfer) feature of LifeGoals, and transfer ownership of your Centuria LifeGoals investment at any time without tax implications to you or the assignee.

How can I use Centuria LifeGoals as an alternative to Superannuation?

Unlike Superannuation, investors have access to their investment and can make withdrawals at any time. This can be particularly useful for investors who want to accumulate wealth in a tax effective environment while still having access to funds.

Additionally, investors can make unlimited contributions during their first year invested in a Centuria LifeGoals Product and then each year contribute up to 125% of the previous years contribution, whereas superannuation is subject to caps on how much an investor can contribute each year and a cap on total lifetime contributions.

Who can invest in LifeGoals?

Individuals (single or joint holders), trusts or corporate entities are able to invest in LifeGoals with exception of LifeGoals Child Plan where only individuals can invest.

Who can I contact if I have any further questions about Centuria LifeGoals?

You can contact our Investor Services team on 1300 50 50 50 or email at enquiries@centuria.com.au.

Where can you find information regarding performance of each investment option?

Performance information can be found on this website.

How do existing investors change their details such as contact details and banking details?

Contact and banking information can be updated within Centuria Investor.

Alternatively, forms can be located in the forms section of the Centuria website and can be emailed to Bonds.Enquiry@CenturiaInvestor.com.au.

How do existing investors switch between investment options, re-assign investments and change beneficiaries?

These can be updated within Centuria Investor.

Alternatively, forms can be located in the forms section of the Centuria website and can be emailed to Bonds.Enquiry@CenturiaInvestor.com.au.

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