Important Notice: ONEANSWER

Changes to tax refunds on Adviser Service Fees for Super and/or Pension products

If you pay an adviser service fee from your account, you may notice a change in the amount from 1 July 2024.

From 1 July 2024, the ATO stopped allowing Reduced Input Tax Credits (75% of the GST) to be claimed by superannuation funds on adviser service fees. This means that any adviser service fees you pay may increase by 7.32% as the GST refund (or Reduced Input Tax Credit) is no longer available. The adviser service fee received by your financial adviser should not change.