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ATO upgrades super functionality
The Tax Commissioner, Chris Jordan, has flagged further changes within the Australian Taxation Office (ATO) designed to make it easier for Australians to access their tax details.
Jordan told a Tax Institute function last week that in the next couple of months the ATO would be releasing new superannuation functionality within its ATO app which would enable people to check their balances and change their personal details electronically.
The Tax Commissioner told the conference that the ATO had made some significant improvements in the area of superannuation, nominating the manner in which SuperSeeker gave individuals the ability to view all their active accounts for the previous two years, and make online requests to claim lost superannuation.
He also noted that improved account matching meant 94 per cent of lost accounts and 70 per cent of unclaimed superannuation accounts were now being matched to a tax file number (TFN).
As well, Jordan said the new Super Tick service had served to validate employer and member information, with the industry having estimated that this had saved them around $50 million each year.
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