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Link flags revenue drop from super changes

Fund administrator Link Group says the federal government's attempt to reunite people with funds languishing in unused superannuation accounts would have cost it as much as $55 million in revenue if it had been enacted this year.

The measure announced in last week's budget is for all inactive super accounts containing less than $6,000 to be transferred to the Australian Taxation Office, which will then try to return the money to its owner.

The proposed date for analysis of super accounts is July 1, 2019, and Link Group - which says it believes the industry was not consulted about the move - does not anticipate any drop in the number of member accounts before the 2020 financial year.