#EveryoneNeedsaPlan: ATO Removes GST Discount on Investment Adviser Fees

From 1 July, 2024 Australian superannuation funds and investment platforms will not be eligible to claim some of the GST paid by investors for adviser fees

• The fees you pay your adviser to help manage your investments are subject to GST
• Generally, the GST paid on your adviser fees cannot be claimed back and therefore the cost of your adviser fee is increased by 10%
• However, if you elect to have your adviser fees paid by way of deduction from a superannuation fund or investment platform, the fund claims back part of the GST
• The GST saved is passed onto you as the investor, effectively lowering your adviser fee costs
• From 1 July 2024 the ATO have announced superannuation and investment platforms will no longer be eligible for claiming back any of the GST related to adviser fees