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An avoidable issue with Australia's superannuation system is employees failing to consolidate multiple accounts, thus being charged multiple account fees. In 2018, of Australia's 15 million superannuation fund members, 40% had multiple accounts, which collectively cost them $2.6 billion in additional fees per year. [78]
AustralianSuper is an Australian superannuation fund headquartered in Melbourne, Victoria.It is an industry super fund, and so operates through a mutual fund structure.. With over A$ 340 billion of retirement savings under management and more than 3.4 million members, AustralianSuper is the largest superannuation fund in Australia and the sixteenth largest pension fund in the world.
the dividend imputation system allows a credit for imputation credits on Australian shares, which may result in a tax refund. capital gains on assets held more than 12 months may be entitled to a capital gain tax discount. other tax credits such as foreign tax credits may apply.
Australian tax returns for the tax year beginning 1 July and ending 30 June of the following year are generally due on 31 October after the end of the tax year. [ 1 ] Australian individual taxpayers can file their return online with the ATO's myTax software, by ordering a printed copy of the tax return form, or with the assistance of a tax agent.
TFNs are issued by the Australian Taxation Office. A new taxpayer receives a tax file number within about a month of making an application and providing proof of identity. Centrelink helps those applying for certain benefits to apply for a TFN at the same time, if they do not already have one. For example, unemployment benefits are subject to ...
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The Australian Retirement Trust was founded on 28 February 2022 following the merger between Sunsuper and QSuper. [3] It was the largest superannuation fund merger in Australian history. [3] On 30 April 2022, the Australia Post Superannuation Scheme (APSS) was merged into the Australian Retirement Trust. [4]
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