Published: 16 Oct 2019
Australians with multiple super accounts should consider consolidating their accounts or risk losing potential earnings, ahead of new superannuation changes coming into effect at the end of October.
As part of the Federal Government’s Protecting Your Super changes that come into effect on October 31st, all inactive, low-balance super accounts (under $6,000) will be automatically rolled over to the Australian Tax Office (ATO). The ATO will then try to reconnect the savings from these accounts with people’s current accounts.
You can read the full media release below.
*The above material, whilst correct at the time of publication may include references or statements which are no longer current.