Increase to small lost threshold

The Tax and Superannuation Laws Amendment (2015 Measures No. 4) Bill 2015 successfully passed through the Senate on Wednesday 16 September 2015.

From 31 December 2015, the small lost threshold for super accounts is increasing from $2,000 to $4,000. Inactive and un-contactable accounts with a balance below this threshold are required to be transferred to the ATO.

Funds should start preparing to identify, report, and transfer lost accounts below $4,000 as part of your Unclaimed Super Money (USM) Statement due on or prior to 30 April 2016.

More information about the BillExternal Link is available on the Parliament of Australia website.

    Last modified: 10 Nov 2015QC 47322