What will the Budget mean to you?
Federal Budget 2018 – Super fees slashed
Super fees slashed
There’s not a lot in this Budget for younger Australians but they will at least get a better deal on their super.Fees on accounts with balances of $6,000 or under will be capped at 3 per cent (of the balance). Exit fees will be banned when super funds are consolidated. The ATO will be supported to proactively consolidate any inactive super accounts a taxpayer has with their active account. Rather than being the default option, life insurance will be offered on an opt-in basis for super fund members under 25.
Read more of Owl Financial Management’s (OwlFM) Federal Budget 2018 summary here:
Federal Budget 2018If you would like to discuss your financial position and existing financial plan, contact us on 08 83620060