Page 1

CLIENT UPDATE 18 June 2010

Unclaimed Superannuation Money Protocol Document The Australian Tax Office (ATO) has recently published on its website the Unclaimed superannuation money protocol document. This document provides guidance for superannuation trustees and administrators in relation to the payment and reporting of members’ superannuation entitlements to the ATO under the Superannuation (Unclaimed Money and Lost Members) Act 1999 (the Act). In particular, the Unclaimed superannuation money protocol document addresses the unclaimed superannuation money of members 65 years old or older, non-member spouses, deceased members and former temporary residents. It also deals with lost members’ accounts including small accounts (balance less than $200) and accounts of unidentifiable lost members. The Unclaimed superannuation money protocol document provides technical guidance by explaining various key terms and gives guidelines on practical administration, taking into account industry best practice and the desire for consistent practices industrywide. The ATO’s ‘Unclaimed superannuation money protocol document’ page may be accessed through this link: http://www.ato.gov.au/superfunds/content.asp?doc=/content/00244815.htm Paul Cleary has considerable expertise in the provision of specialist financial services and would be pleased to offer strategic superannuation legal advice.

For more information, please contact: Paul Cleary Partner T: 02 8257 5760 M: 0407 052 170 paul.cleary@turkslegal.com.au

Sydney | Level 29, Angel Place, 123 Pitt Street, Sydney, NSW 2000 | T: 02 8257 5700 | F: 02 9239 0922 Melbourne | Level 10 (North Tower) 459 Collins Street , Melbourne, VIC 3000 | T: 03 8600 5000 | F: 03 8600 5099 Insurance & Financial Services | Commercial Disputes & Insolvency | Workers Compensation | Business & Property

www.turkslegal.com.au TURKSLEGAL

CLIEN T U P D A T E


Unclaimed Superannuation Money Protocol Document  

The Australian Tax Office (ATO) has recently published on its website the Unclaimed superannuation money protocol document which provides gu...

Advertisement
Read more
Read more
Similar to
Popular now
Just for you