Stake your claim in $54m cash bounty

IF YOU live in the Toowoomba region postcode area, you could have a stake in a $54 million bounty.

New statistics released by the Australian Tax Office shows $54.2 million in lost super is waiting to be claimed by people living in the 4350 postcode area.

The tax department says a lot of the money could be sitting in super accounts where funds have lost contact with the owner.

The cash bounty could also be sitting untouched in accounts that have not received a contribution in five years or more.

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"More than 40 per cent of super account holders have more than one account," Australian Taxation Office assistant commissioner John Shepherd said.

"Many of these additional accounts have not received a contribution for quite some time, and those with small balances can be eroded by super fund fees and charges."

You can check any lost or ATO held super accounts by creating a myGov account and linking to the ATO.


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