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ATO alerts issued for unclaimed super

The Australian Tax Office (ATO) will be contacting 80,000 individuals, starting this week, to alert them of unclaimed super.

An email campaign will alert members about ATO-held unclaimed super money from 5 April. On 16 April, 20,000 letters and SMS will be sent.

The ATO currently holds unclaimed super money for around 5.38 million accounts, totalling $3.75 billion as at 30 June 2017. These alerts will form part of a number of strategies used by the Tax Office to reunite individuals with their unclaimed super.

To claim unclaimed super money, individuals must create a myGov account which is linked to ATO online services.

If you need assistance with unclaimed super, do not hesitate to contact our office today.

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Transition to retirement

November 25, 2020

The transition to retirement (TTR) strategy allows you to access some of your super while you continue to work.

You are able to use the TTR strategy if you are aged 55 to 60. You can use it to supplement your income if you reduce your work hours or boost your super and save on tax while you keep working full time.

TTR can help ease your mind as you transition into retirement but it can be a bit complex. Before you choose whether you want to use TTR to reduce work hours or save on tax, or even if you want to use TTR altogether, you should figure out how this will impact all aspects of your finances.