Can I get my money out of investments?

Here are some other considerations if you choose to withdraw your money from an investment.

Investment Returns

If you have invested in high risk assets such as shares, it’s possible you won’t get all your initial investment back. Higher risk assets carry a higher potential for loss and the value of your investment may decline.

Tax on disposal of your investment*

If you sell an investment, you generally trigger a capital gains tax event.  If you have made a capital loss it could be used to offset other capital gains you have for that year or you can carry the net capital loss to be utilised in a future year against capital gains you may derive.  If you have made a capital gain, you will need to pay tax on that gain (you may be eligible for a capital gains discount where you have held the investment asset for more than a year).  If you are thinking of selling an investment make sure you are aware of the tax implications of selling.

Investment Exit fees

Your investment may charge exit fees for taking your money out especially before the term of the investment is complete. You will also need to pay any other outstanding fees owing.

Super savings

Generally you can’t access your super until you reach the legal age for retirement..