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Investors need to check on their deposits

09/02/2012

According to the latest figures from the Australian Taxation Office, about 30 per cent of Australian SMSF balances were invested in cash or term deposits.

Tim Hewson, investments manager at RaboDirect Australia and New Zealand, says it is important for investors to do their homework to get the best from their cash investments.

“People think cash is simple, but that's not always the case. Often you need to read the fine-print to understand all the terms and conditions applied, and you need to make sure what you choose matches the needs of members.”

“Minimum initial deposits and balances, minimum monthly deposits, a limit on the number of transactions allowed, limited promotional offers and sub-official cash rate base rates are just some examples of where you can fall down.”

Source: The Australian



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