Funds face 10% membership loss to ATO

Policy and Regulation

Funds face 10% membership loss to ATO

The Government’s change to the threshold at which inactive funds can be transferred to the Australian Tax Office (ATO) will hit membership numbers and put upward pressure of fees, agrees the Association of Superannuation Funds of Australia (ASFA) and SuperRatings. The current $2,000 threshold will increase in two phases—first to $4,000 from December 31, 2015, […]