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

Farmers make use of RAA subsidies for succession & estate planning advice

25th September 2020

This blog article follows on from our previous article Get in quick! Subsidised business & estate planning advice for farmers... Read More

JobKeeper extension – what you need to do as a business or not-for-profit

25th September 2020

The ATO has released a practical factsheet outlining all the practical steps required to be followed for businesses or... Read More

Withdrawing super before succumbing to a terminal illness – Act sooner rather than later!

15th September 2020

A recent ATO private ruling considered the implications of withdrawing superannuation when a member is terminally ill. Before passing away,... Read More

Our 2020-2021 Internship Program is open for applications

01st September 2020

In 2019 Roberts & Morrow launched the Internship Program with the University of New England (UNE) where we offered... Read More