Sally Patten Reported in The Australian Financial Review

Lost Superannuation Accounts

Lost Superannuation Accounts

“The sweep-up of ‘lost’ accounts could mean lower returns for some, but there are good tidings for the beneficiaries of deceased estates. Savers should use the next few months to search for superannuation accounts they may have lost touch with before the Federal Government sweeps up many dormant, small balances as part of its efforts to plug a budget hole. As for self-managed fund levies, the Federal Government says from 2013-14 the annual levy will rise from $191 to $259. The technical director of the SMSF Professionals Association of Australia, Peter Burgess, notes that this suggests the levy for both 2012-13 and 2011-12 will be $191, down from the previous year’s $200.”

As reported by Sally Patten, The Australian Financial Review, page 27

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