Super advertising campaign cost $16.56 million
The Australian Taxation Office (ATO) spent $16.56 million on a high profile television advertising campaign aimed at supporting the former Labor Government’s superannuation initiatives, including in the run-up to the last Federal Election.
The ATO has confirmed the expenditure in answers to questions on notice filed by Tasmanian Liberal Senator, David Bushby as part of the Senate Estimates process and has acknowledged that the advertising campaign was, ultimately, terminated by the current Coalition Government in November, last year.
The ATO said the total allocation to the television advertising campaign 'Super. Your money, your future’ campaign from 2011-12 to 2015-16 was $18.578 million, of which $16.56 million was spent.
“The remaining funding was removed from ATO appropriations as part of the Mid-Year Economic and Fiscal Outlook budget update in November 2013,” the ATO answer said.
The ATO’s answer confirmed that the campaign had been approved for launch by the former Minister for Financial Services and now leader of the Opposition, Bill Shorten, but only after it had been the subject of consideration by a specially formed “Super Reform Communication Cross Agency Working Group” entailing the Australian Prudential Regulation Authority (APRA), the Australian Securities and Investments Commission (ASIC), Treasury and the Department of Human Services.
It said the campaign had also been scrutinized by an “Independent Communications Committee and Peer Review Group”.
The ATO’s answer revealed nine external consultants had been retained to work on the campaign including two public relations consultancies, and three advertising companies.
Recommended for you
Australia’s largest super funds have deepened private markets exposure, scaled internal investment capability, and balanced liquidity as competition and consolidation intensify.
The ATO has revealed nearly $19 billion in lost and unclaimed super, urging over 7 million Australians to reclaim their savings.
The industry super fund has launched a new digital experience designed to make retirement preparation simpler and more personalised for its members.
A hold in the cash rate during the upcoming November monetary policy meeting appears to now be a certainty off the back of skyrocketing inflation during the September quarter.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
225.31 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
120.73 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
72.47 3 y p.a(%)
4
Paradice Australian Mid Cap A
69.09 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
61.94 3 y p.a(%)
