Postcodes with the most lost super

According to ATO data released in August 2016, $11.7bn is sitting in lost super accounts. Super is considered ‘lost’ when a fund is unable to contact the individual and hasn’t received a contribution to an account for 5 years.

The ATO reports that the postcode with the highest amount of lost super, totalling $49m, is the 4740 postcode in Queensland, which covers Mackay and the surrounding suburbs. In our region lost super amounts are $8.7m for Armidale, $15.8m for Tamworth and $2.2m for Glen Innes.

The ATO is encouraging people to check to see if they have lost super during tax time. You can check for lost super on the ATO website here.

Link to ATO website: https://www.ato.gov.au/Individuals/Super/In-detail/Keeping-track/Check-your-super/

Recent Articles

Update on Drought Assistance

16th August 2019

RAA – Rural Assistance Authority https://raa.nsw.gov.au Farm Innovation Fund The Farm Innovation Fund is part of the NSW Government’s Drought Strategy and... Read More

Planning Opportunity - Carry forward (Catch-up) Concessional Contributions

08th July 2019

From 1 July 2018, individuals with total superannuation balances below $500,000 have been allowed to carry forward the unused... Read More

1 July 2019 Retail and Industry Fund Insurance Changes

25th June 2019

From 1 July 2019, the Protecting Your Super reforms will commence. It’s important to understand how these changes will... Read More

Important ATO changes to payroll procedures

25th June 2019

Single Touch Payroll (STP) is an ATO reporting obligation which requires employers to report employee payroll information, including superannuation,... Read More