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Individuals, the October 31st tax return deadline is nearing, so if you haven't already, get in touch with your accountant to ensure you lodge on time. |
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Have you got a hold on your super? Consolidate your superannuation funds & avoid wasting your hard earned retirement money on unnessary admin fees. |
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Keep up to date on current tax rates and new ways to minimise your tax each year. Ensure you're making the most of the deductions made available to you. |
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Find Lost Super
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Whilst establishing a new superannuation account is good, or managing your own account can be very fulfilling, you need to make sure you do not have any unclaimed investments, otherwise you run the risk of never finding or consolidating
these superannuation funds.
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For a lot of Australian's how to find lost superannuation has been a more difficult exercise in the past, now it has become a lot easier because of online access to these databases. If you want to find missing super one of the best ways is
to access to ATO website or one of the many unclaimed super sites on the internet. Sometimes it may only be a small amount of money, but there are many situations where it may be hundreds or thousands of dollars, which really adds up at the
end of the day - especially when you reinvest it in to your superannuation fund.
There are two main reasons why your superannuation contributions can get lost. The first is if your employer didn't pay your superannuation contribution or secondly, your superannuation contributions have simply got lost in the system.
To deal with each of these the ATO now provides some simple tools to help claim your lost super.
1. You suspect your employer or boss is not paying your superannuation contributions.
Provided you qualify for superannuation it is your employer's responsibility to make these payments. We recommend to contact the Human Resources department at your place of employment to confirm you are eligible to receive super and discuss
what the reason may be. The basic requirements are that you must be 18 years old or over and have an income of at least $450 a month before tax.
If this leads to nowhere, you should contact your super fund manager and check your Member Statement to confirm what has been paid into your account and by whom.
If this fails, then your next step is to contact the ATO and lodge an inquiry into your unpaid contributions.
2. You suspect your superannuation contributions have been lost in the system.
Lost superannuation is reported by super funds as missing contributions which are recoreded at the Lost Members Register (LMR). You will need to contact them and provide your details so they can check you against the database.
Your other option is to use the Super Seeker tool provided by the Australian Taxation Office, which allows you to perform a search of the Lost Member Register and other registers to look for potential matches for your lost super.
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