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
Data and technology provider Novigi has acquired Iress’ superannuation consulting and managed services business from Apex Group.
AMP is to launch a digital advice service to provide retirement advice to members of its AMP Super Fund, in partnership with Bravura Solutions.
Unveiling its performance for the calendar year 2024, AMP has noted a “careful” investment in bitcoin futures proved beneficial for its superannuation members.
SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024, finding the year achieved “strong and consistent positive” returns.
