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On 21 September 2011, the then Assistant Treasurer and Minister for Financial Services and Superannuation announced the 'Stronger Super' reforms designed to improve the superannuation system and better safeguard the retirement savings of all Australians.

Changes to the law, mean that super funds, after obtaining member consent, will be able to search for a member's reported account information, lost accounts and other super monies held by us to assist them to consolidate their accounts. The law changes allow the ATO to disclose this information.

Media release

For more information, refer to media release no. 131, A better deal for superfund members, issued on 21 September 2011 by the Assistant Treasurer and Minister for Financial Services and Superannuation.

Legislation and supporting material

The following legislation received royal assent on 27 June 2012:

• Tax and Superannuation Laws Amendment (2012 Measures No. 1) Act 2012
• Explanatory Memorandum.

More information

For more information, refer to: Stronger Super Exposure Draft legislation and an explanatory memorandum - Intra fund consolidation of superannuation interests released by Treasury on 23 March 2012.