There has been a huge ripp off done by the Australian government towards its citizens, legally stealing and assets. one man who at least isnt sweeping this ripp off under the carpets is Senator Nick Xenophon is calling for an end to what he has described as a “super fund rip off”.
As you would no doubt be aware the government made a draft of changes to the superannuation rules during the last budget.
But one of the rules they didn’t touch relates to ‘lost’ superannuation.
Each yeah the government takes hundreds of millions of dollars from super accounts it deems as ‘lost’.
In fact according to the Association of Superannuation Funds of Australia (ASFA), they’ve taken $2.7 billion from these ‘lost’ superannuation accounts since 2012 – and some of that money could be yours.
While it’s your responsibility to make sure you trace your super funds and consolidate it all into one account, Nick Xenophon wants that to change.
He’s described the government reclaiming ‘lost’ superannuation as a “super fund rip-off”.
“The onus instead needs to be on the ATO to actively pursue the rightful owner of the funds – not the other way around,” he wrote on Facebook yesterday.
“A lot of Australians are rightfully confused when it comes to superannuation and the ATO, being a massive government agency with massive resources, should be assisting those people, not ignoring them and holding onto their money.”
Read about this here; https://startsat60.com/money/nick-xenophon-calls-for-end-to-superannuation-rip-off