Find Your Small Lost Superannuation Accounts - 14th October 2015

A Bill has been introduced into Parliament which contains legislative amendments to increase the account balance threshold below which small lost member accounts will be required to be transferred to the Commissioner of Taxation, i.e. from $2,000 to $4,000 from 31 December 2015, and from $4,000 to $6,000 from 31 December 2016.


Moving all your super from multiple accounts into one account (known as 'consolidating your super') might help you to save on fees and make managing your super easier.


There may be sound reasons for maintaining a separate small superannuation account. It may be prudent to assess those reasons and, if those reasons are still valid, to take steps to ensure that you remain an active fund member.


Individuals are able to claim back their superannuation from the Commissioner at any time. Interest, calculated in accordance with the Consumer Price Index (CPI), has been payable on unclaimed superannuation money repaid since 1 July 2013.


To find lost superannuation visit the ATO website



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