The Australian Securities and Investments Commission (ASIC) is urging people to take advantage of Australia’s more beneficial superannuation regime by consolidating their super accounts and accessing the Government’s co-contribution.
ASIC acting executive director of consumer protection Delia Rickard said the regulator was encouraging consumers to make the most of any tax gains.
ASIC has suggested consumers consider their financial situation, including converting any tax savings into superannuation dollars by increasing personal contributions.
“[We are] encouraging consumers to make the most of any tax gains,” Rickard said. “Putting this extra money, no matter how small the amount, to good use before you’ve spent it can make a big difference to your financial position over the long term.”
