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  • The Superannuation System

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    The ATO has a major role in the administration of various aspects of the super system. This section contains the following tables:

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    Superannuation

    Table 43: Superannuation guarantee charge (SGC), 2010–11 to 2012–13 financial years

     

    2010–11

    2011–12

    2012–13

    SGC net cash collections ($m)

    269

    323

    338

    Entitlements distributed ($m)

    258

    295

    312

    Note- Entitlements distributed: this includes amounts transferred to the superannuation holding accounts special account.
    Table 44: Superannuation holding accounts special account, 2010–11 to 2012–13 financial years

     

    2010–11

    2011–12

    2012–13

    Value of deposits ($m)

    4.1

    9.1

    10.3

    Number of accounts > $0

    175,770

    164,615

    160,210

    Total value of accounts ($m)

    71.8

    68.3

    62.1

    Table 45: Superannuation lost members register account, 2010–11 to 2012–13 financial years

     

    2010–11

    2011–12

    2012–13

    Total accounts at 30 June (m)

    5.0

    3.4

    2.5

    Uncontactable accounts (m)

    3.5

    2.0

    1.4

    Inactive accounts (m)

    1.5

    1.4

    1.1

    Closing value at 30 June ($b)

    20.2

    16.8

    16.8

    Value of uncontactable accounts ($b)

    12.1

    9.0

    8.4

    Value of inactive accounts ($b)

    8.1

    7.8

    8.4

    Table 46: Superannuation unclaimed, 2010–11 to 2012–13 financial years

     

    2010–11

    2011–12

    2012–13

    Accounts at 30 June (m)

    2.3

    2.8

    3.6

    Closing value at 30 June ($m)

    730

    887

    2,086

    Table 47: Superannuation self-managed super funds, 2010–11 to 2012–13 financial years

     

    2010–11

    2011–12

    2012–13

    Funds (no.)

    442,985

    478,265

    509,360

    Members (no.)

    846,225

    913,550

    963,850

    Assets ($m)

    423,232

    438,995

    505,542

    Note-Members and assets: these are estimates based on ATO data. All 2010–11 and 2011–12 figures have been updated.

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    More detailed statistics relating to self-managed super funds are available on the Super section of our website SMSF – detailed statistics

    Table 48: Superannuation co-contribution entitlements determined and paid, 2010–11 to 2012–13 financial years

     

    2010–11

    2011–12

    2012–13

    Number

    1,097,135

    1,035,795

    922,100

    Amount ($m)

    679

    602

    526

    Note-Number and amount: these relate to personal contributions made in previous income years. The amount figures refer to payments of original entitlements and do not include credit amendments or interest.
    Table 49: Superannuation excess contributions tax, 2010–11 to 2012–13 financial years

     

    2010–11

    2011–12

    2012–13

    Net liabilities raised ($m)

    243.6

    174.3

    30.1

    Note-Net liabilities raised: this relates to excess contributions tax liabilities raised in respect of previous income years.
    Table 50: Superannuation surcharge, 2010–11 to 2012–13 financial years

     

    2010–11

    2011–12

    2012–13

    Surcharge assessments issued (no.)

    18,680

    13,660

    6,950

    Surcharge collected ($m)

    42

    37.5

    35

    Notes-Surcharge assessments issued: this relates to assessments in respect of 2004–05 and previous years.Surcharge collected: this does not relate to assessments issued; the individual is not liable for surcharge until they access their benefits or roll the benefit into another fund.
      Last modified: 20 Jun 2014QC 39946