ATO pushes SuperSeeker campaign
The Australian Taxation Office (ATO) has renewed its campaign aimed at reuniting people with their lost superannuation accounts.
The ATO has announced that it intends mailing 500,000 letters before the end of the financial year to people on the lost members register urging them to make contact with their superannuation fund.
The Tax Office said super funds could expect to receive more calls as a result of the mail-out as people become more aware of the methods they can use to track their lost super.
In line with the mail-out, the ATO said it was reminding superannuation funds, approved deposit funds, eligible roll-over funds and providers of retirement savings accounts to report details of lost, found and transferred members.
At the same time as undertaking the mass mail-out the ATO has initiated a phone service as part of its SuperSeeker service.
It said the service would be available 24 hours a day, seven days a week with the search conducted using a person’s tax file number and date of birth.
In 2003 the amount of super assets that were unaccounted for stood at $6.6 billion, and the ATO through campaigns such as SuperSeeker, has been working towards finding owners for the nation’s lost super.
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
