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Unclaimed Super? You may be on the ATO alert list

In the coming weeks the ATO will commence a campaign reaching 100,000 individuals, notifying them of unclaimed superannuation funds which the ATO are holding on their behalf. It’s expected the ATO will send 80,000 emails, 20,000 letters and SMS notification contacting those with unclaimed super.

In June 2017 the ATO reported it held approximately 5.38 million accounts totalling $3.75 billion of unclaimed superannuation, which over half of these belonged to individuals aged 40-55 years of age.

It would seem the campaign to reunite tax payers with their lost super is working with close to 190,000 people transferring and consolidating approximately $1.8 billion in lost superannuation funds as of January.

For more information on how to keep track of your superannuation and to locate lost funds visit: https://www.moneysmart.gov.au/superannuation-and-retirement/keeping-track-and-lost-super

Should you receive an alert from the ATO in the coming weeks and would like to discuss your superannuation position please contact Clive Todd or Frances Hill on 07 3218 3900.

 

Please note that this publication is intended to provide a general summary and should not be relied upon as a substitute for personal advice.

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