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25 July 2017Single Touch Payroll Australian Taxation OfficeOnline choice of fund design I attach a short submission from Bus in response to the Single Touch Payroll Consultation Paper. If any matter

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What is online choice of fund?

Online choice of fund is a process where individuals can select which investment fund their retirement savings will be invested in.

Who is required to file online choice of fund?

Employees or individuals who have a retirement savings account are required to file online choice of fund.

How to fill out online choice of fund?

Online choice of fund can be filled out by logging into the retirement savings account portal and selecting the desired investment fund.

What is the purpose of online choice of fund?

The purpose of online choice of fund is to allow individuals to customize their retirement savings investment strategy.

What information must be reported on online choice of fund?

Individuals must report their selected investment fund option and any allocation percentages.

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