Good morning,
I have a Super account with Q Super and Australian Super.I have had numerous problems over the past year with Q Super where I have on many occasions not even been able to access my account to sell/buy shares because their system was not working for many hours and I lost a lot of opportunities to make money.But, I can’t see how I can change to another Superfund now because I would have to sell all of my shares that have increased in value over this time and would therefore end up with less shares of the same stock if I moved.
Another thing I found out, because I made the wrong assumption - is with Q Super they don’t deduct tax prior to receiving any dividends received that are reinvested. They reinvest the funds for purchase of more shares if that’s what you requested and then if you don’t have enough available cash to pay the tax - then you end up having to sell some shares to free up cash for the tax payment, thus are disadvantaged $ in the long run because then you would have to pay more tax on the shares sold to do this. Thus this makes it very messy and you have to keep an eye on what’s happening and ensure you have enough funds when tax is due. Very messy !
Australian Super on the other hand does not make you do this and deducts the tax on shares that at are Re- invested ( dividends ) prior to reinvesting your dividends for more shares.Something to think about. I’m not sure how many people are aware of this. But I hope this information helps you.
Kind Regards
Meetupsoon
- Forums
- ASX - By Stock
- Australian Super's punishing new portal
Good morning,I have a Super account with Q Super and Australian...
-
- There are more pages in this discussion • 5 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
FWD
Queensland's housing crisis an opportunity for ASX builder Fleetwood – and taxpayer cash a safe harbour from the storm
SKS
SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne