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Frequently asked questions

Search through answers to commonly asked questions below, or jump straight to your area of interest:

For further assistance contact the Protect Member Services Team.

Frequently asked questions

Severance account

When you separate from your employer

If you lose your job or stop work for any reason, you can make a claim from your Protect account. These reasons may include:

  • Termination
  • Resignation
  • Redundancy*
  • Promotion to an above award position, or 'off the tools'
  • Retirement
  • Death

If your employment ceases, an initial claim can be made from your online Protect account via the yellow worker log in button on each page of our website, or from the Protect phone App, at any time of day.

For all other claims, please call us to discuss your circumstances so that we can assist you with any necessary paperwork.

* Only a payment for a genuine redundancy is eligible for the tax-free limit, all other termination event payments are taxed according to ATO rules.

The reason for leaving employment otherwise known as the 'termination event', dictates the tax applied. 

*The tax free threshold for the 2019/2020 financial year is $10,638 for the initial year, and $5,320 for each full year of service with your employer.

Use the App

An initial severance claim can be made via:

  1. The Protect App or
  2. Your online Protect account

Claims made via these online options can be made at any time of day and are the quickest and simplest avenues for accessing your entitlements.

For all subsequent claims, please call us so that we can help you with any necessary paperwork.

Need help?

Our Member Services Team can help step you through the process phone 1300  344 249 or email info@protect.net.au 

It depends on your termination event

If you lodge a claim due to a genuine redundancy, your initial claim limit is up to your tax free threshold or the balance of your account, whichever is the lesser.

Where an initial claim is processed for any reason other than redundancy, the initial claim limit is capped at $6,500 or your account balance, whichever is the lesser.

Tax free redundancy payments are now aligned with the age pension qualifying age

Tax free redundancy payments are now aligned with the age pension qualifying age

As of 1 July 2019, you are eligible to receive tax free redundancy claims up to your age pension age.

Claims on a Protect account due to genuine redundancy attracts a tax free component, based on the person’s length of service with their employer. Previously you could only benefit from this if you were under the age of 65. However, new legislation has extended the age limit to match an individual’s age pension qualifying age, which means those working longer in life are no longer exempt from the tax benefits of being made redundant.

No - you can make a retrospective claim

With Protect you don’t have to be unemployed to make a claim. If you’re in new employment you can make a retrospective claim from a previous employer.

The Member Services Team

The Member Services Team

1300 344 249

Our Australian based Member Services Team is available to answer all queries relating to your Protect account. Calling 1300 344 249 will also grant you access to our Field Officers who are able to visit you in person should you require that level of assistance.

Email: info@protect.net.au

Tax is determined by your termination event

All severance claims lodged effective 17 December 2019, will be treated as follows:

*The tax free threshold for the 2019/2020 financial year is $10,638 for the initial year, and $5,320 for each full year of service with your employer.

Additional tax information

Late termination payments

We are legally required to withhold 47% tax from all severance claims made beyond 12 months of your retirement/termination date.

This law does not apply to redundancy claims.


Eligible Termination Payment Cap

Concessional tax rates of 32% (or 17% if you have reached your preservation age) only apply to the first $210,000 of all Eligible Termination Payments. Beyond this cap we are required to withhold 47% tax.


Deceased Claim Tax Rates

If you die, payments from your Protect severance account are generally not taxed if the beneficiaries are your financial dependents or your estate.

If your beneficiaries are not your financial dependents, 32% tax will generally apply to the payment from your account.


Whole-of-Income Cap

Any payment received not resulting from redundancy may also be subject to higher taxation via your personal tax return, if your taxable income plus this payment exceeds $180,000.

Please consult your financial advisor if you believe this may apply to you.

The tax free limit on redundancy payments

A genuine redundancy payment is tax-free up to a certain limit, based on the number of whole years of service you've completed with your employer.

For the 2018/19 financial year, the limit is:

$10,399 plus $5,200 for each complete year of service

Example of savings:

  • Jim has a balance of $7,000 in his Protect account
  • He is under 65 years old
  • He has been with his current contributing employer for two and a half years

When Jim is made redundant he lodges a claim with Protect. Jim is entitled to a tax-free redundancy payment of up to $21,278. Calculated as: ($10,638 + [2 x $5,320])
Therefore the entire balance of Jim’s account will be paid out to him tax-free.

No

All retirement claims are subject to tax as determined by the Australian Taxation Office. The only 'termination event' (reason for employment ending), that attracts a tax free component is genuine redundancy. 

It depends on your date of birth

It depends on your date of birth

Your preservation age is generally the age that you can retire and access your superannuation or other retirement-related benefits. 

It depends on your date of birth

It depends on your date of birth

Your preservation age is generally the age that you can retire and access your superannuation or other retirement-related benefits. 

No, there is now just one Protect account

Protect has one severance account that combines the best features of our old genuine redundancy (GRA) and termination (TER) accounts. The new account allows you to claim at any time that you leave employment AND it offers the best tax rates rates applicable to your termination event.

Members are not required to do anything to take advantage of this change. If you previously had a TER or GRA account you now have the new account in place and your membership number remains the same.

Why did Protect roll the two account types in to one account?

Protect were proudly the first severance scheme to offer members a choice of account types so workers could either claim in a wide range of circumstances OR choose a redundancy only account that allowed for a tax free component. In December 2019 however, we obtained Australian Tax Office approval to combine the benefits of both accounts in to one account allowing us to pay severance claims to workers based on the event which caused their employment to terminate. 

More options

You will still be able to access tax free initial claims on a genuine redundancy. In addition, you will be able to lodge a claim should you resign, or your employment is terminated for any reason other than redundancy. Under the old account, you were unable to access your severance if your employment terminated for any reason other than redundancy or retirement now you can!

Members are not required to do anything to take advantage of the change to one account type. Your Protect member number remains the same.

Potential for tax savings

Previously all claims payable on a TER account, were subject to tax. Under the new rules, if your employment terminates due to a genuine redundancy, your initial claim will be paid tax free.

Members are not required to do anything to take advantage of the change to one account type. Your Protect member number remains the same.

Claims lodged prior to the change are processed under the old tax rules

All initial claims processed before the change was implemented, are under the old claiming rules. Therefore, should you lodge a subsequent claim for the balance of your account, that claim will be treated under the old claiming rules.

Questions? Give us a call on 1300 344 249.

Not any more :)

Because there is now only one Protect account there is no need to nominate to change accounts and therefore no waiting period before you can make an initial claim.

 

Income protection

Download a claim form

Protect administers insurance products for ATC Insurance Solutions. You can go directly to the ATC site for comprehensive information about claiming, or simply access the relevant claim form here:

Lodge your claim form

Once completed, keep a copy and deliver the original to:

ATC Insurance Solutions
Level 4, 451 Little Bourke Street
Melbourne VIC 3000
Phone: 03 9258 1770
Freecall: 1800 994 694
Email: info@atcis.com.au

Here to help

Here to help

Sections of your claim form will need to be completed by you and others by your employer or medical practitioner. If you strike a hurdle, don't be shy in giving us a call. The Protect Field Team are independent of the insurer and work with members to ensure claims progress as smoothly as possible. Officers can visit you at home, at work, or at the hospital if need be, to assist you with your claim.

(Pictured L-R) Field Officers, Brett, Joyce, Glenn, Gary (not pictured, Craig and John) can be contacted via our Member Services Team on 1300 344 249. You can also leave a message for any one of them through their direct contacts linked below.

Field Team contacts

Register for online and App access

Register for online and App access

Register for our online services so that you can access your account via our website and the Protect App.  Please contact the Member Services Team on 1300 344 249 to arrange the initial registration. 

Once you have registered and received a password from us, you can view your account by logging in to the Protect workers portal using the yellow 'workers login' button on the top of each page of this website.

Alternatively, download the Protect App and log in using the same password.

Contributions can be tracked via the 'contributions' tab on the App (pictured left) or by viewing 'allocated contributions' on the workers portal (pictured right).

Please speak to your accountant or financial advisor as we are not permitted to provide members with financial advice.

The Protect Field Team

The Protect Field Team

Here to help

The Protect Field Team are independent of the insurer and work with members to ensure claims progress as smoothly as possible. (Pictured L-R) Field Officers, Brett, Joyce, Glenn, Gary (not pictured, Craig and John) can be contacted via our Member Services Team on 1300 344 249. You can also leave a message for any one of them through their direct contacts linked below.

Field Team contacts

Counselling

Phone 1300 344 249

Phone 1300 344 249

Call Protect Counselling on 1300 725 881 (free call) for immediate access to our independent counselling service. 

The service operates Australia-wide, 24 hours a day, 7 days a week and is available to Protect employers, workers and their immediate family, irrespective of your industry via a free phone service. Free face-to-face sessions at an independent location are also available, as well as on-site counselling services in response to emergency situations.

Yes

Yes

Protect Counselling is available to all immediate family members: 1300 725 881

Your family may also make free use of the Hunterlink online ‘Counselling Portal’ for access to self-assessment tools, information on work-related, personal and mental well-being matters.

Login with the password: Protect

Over the phone or face-to-face

Counselling is provided by trained professionals both over the phone and through face-to-face sessions. Male and female counsellors are available and this free, confidential service is available 24 hours a day, 7 days a week and is accessible Australia-wide.

Face-to-face sessions can be arranged near you. Protect Counselling has access to more than 170 qualified professionals throughout Australia, including regional centres.

No referral required

You do not need a referral to access Protect counselling. There is no wait time and every call is answered by a professional counsellor.

The Protect App

The App Store

For Apple users:

Google Play

For Android users:

It's a handy tool for worker members

It's a handy tool for worker members

Keep track of your account

The Protect App can be found on Google Play and at the App Store. It's a tool for workers that lets you keep on top of your account. It's especially handy for those with a severance account because the simplest way to lodge an initial claim is through the App. 

  • Check your current account balance
  • Track employer contributions, paid or outstanding
  • View your employment history
  • Lodge an initial severance claim
  • View your severance claims history
  • Display your membership card
  • Change your account password
  • Check the latest Protect and industry news
  • View and update personal contact details
  • Contact us

You need to register before first use so give the Member Services Team a call on 1300 344 249 to get you set up with a password.

Didn't find your answer? Submit a question or get in touch

Email & Phone

Email: info@protect.net.au
Phone: 1300 344 249