Consolidating superannuation ato is internet dating

That’s why it’s important to look at consolidating or rolling all your super into one account.

consolidating superannuation ato-26

Every superannuation fund charges fees for managing your super investment.

These fees, especially those charged by Industry Super Funds, may be quite small, but if you have super with more than one fund, then you’re paying fees on every account – and these multiple fees can soon add up and eat into your retirement income.

Though the main purpose of the superannuation scheme in Australia has been and continues to be to create an environment in which people can put funds aside to provide an income in retirement, the tax incentives available have also come to be used, especially by wealthy individuals, as a tax reduction strategy.

As a consequence the government has set limits on the amounts that can be brought into the scheme at concessional rates with a number of "caps".

We’ll do the hard work for you and automatically adjust your investment mix as you get older.

This helps ensure your money is invested appropriately based on your age and how long you have until you retire.

This can help you avoid paying multiple fees and make it easier for you to track.

Tell me more When you join Essential Super, you will be opted into the ‘Lifestage’ investment option.

Amounts above those caps can still be brought into the superannuation scheme but are generally taxed at the top marginal tax rate.

Tags: , ,