Consolidating my super

I’m wondering how hard it is to regroup all my super and also use some to buy a business. What are the steps I need to do?

A: It’s not hard to consolidate your super.


What type of business do you want to invest in?  If it’s partly owned by you or one of your relatives then you can’t do this.


You’ll need to set up a SMSF, make it a regulated super fund with the ATO and then ask all your existing super funds to transfer their money into it.  An SMSF administrator will be able to help you with this.


Regards.



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