Your super may be transferred to the ATO
Unless you take action
Super accounts with less than $6,000 and limited activity over the last 16 months, are by law required to be transferred to the ATO.
What does this mean?
This would close the account and the money will remain with the ATO until the ATO is able to transfer it into another active super account under your name or you transfer it into your preferred super account via MyGov.
Further details are available on the ATO website.
To stop this from happening to your account balance, you need to act before 29 March 2024.
Pick 1 of the 3 ways below to keep your account balance with Media Super
Before taking action, consider your personal financial circumstances, including the impact of fees on your account balance. If you decide to keep your account balance with Media Super, here is how.
1. Complete a paper form
You can complete the Inactive low-balance accounts form (PDF) and Media Super will notify the ATO that you wish to stay with Media Super. Please send the completed form to:
Media Super
Locked Bag 5056
Parramatta
NSW 2124In the unlikely event that we don’t end up receiving your form, feel free to also email us an electronic version (i.e. PDF or photos) before you post the physical form. Email enq@mediasuper.com.au and include the following statement:
“I acknowledge and declare that I have read and understood the ‘Inactive low-balance accounts form’ and this email is a confirmation of my electronic signature which is the equivalent of a physical signature as applied to the attached form.”
2. Put money into your Media Super account
There are a few ways you can make a contribution into your super account including:
- A before-tax contribution (known as a salary sacrifice) and
- An after-tax contribution from your take home pay (known as a personal contribution)
Log in to make a contribution or learn more
3. Nominate who will get your super if you die
Complete the Binding death benefit nomination form (PDF) so your super goes to those that matter most, if something happened to you.
Please send the completed form to:
Media Super
Locked Bag 5056
Parramatta
NSW 2124In the unlikely event that we don’t end up receiving your form, feel free to also email us an electronic version (i.e. PDF or photos) before you post the physical form. Email enq@mediasuper.com.au and include the following statement:
“I acknowledge and declare that I have read and understood the ‘Binding death benefit nomination form’ and this email is a confirmation of my electronic signature which is the equivalent of a physical signature as applied to the attached form.”
What happens if my account balance is transferred to the ATO?
Make sure you act by 29 March 2024.
| Positives | Negatives |
| You won’t be required to pay fees or costs. Where possible, the ATO will transfer this money into another super account you might hold or you'll be able to transfer it to your preferred super fund via MyGov. | Your money will no longer be invested, so there’s less opportunity for it to grow. You won’t have insurance cover options. You won’t have access to all the benefits of Media Super. |
We're here to help
If you’d like to learn more about Media Super or have any questions about joining, we can help you with any questions you might have.