Superannuation Alert - 4.4.13

Financial Services eBulletin - 4 April 2013

The Lander & Rogers Superannuation Alert is a brief overview of new developments in the superannuation industry and is in addition to our Superannuation Update, which analyses the main developments of interest in more detail.

  • On 22 March 2013 the ATO issued its SuperUpdate March 2013, which includes information about:
     
    • changes to Rollover benefits statement;
    • new lodgment requirements for member contribution statements from 1 July 2013;
    • SuperSeeker, which makes tracking super easier;
    • unclaimed super and lost member reporting (deferral of due date for some reporting from 30 April 2013 to 31 May 2013);
    • super payment claims for persons departing Australia;
    • deductibility of insurance premiums;
    • rollovers under the new data and e-commerce standard (reminding APRA-regulated funds to prepare for rollovers in the new data and e-commerce standard and that all registrable superannuation entity licensees have a legal obligation to provide their entity's details to the ATO by 2 April 2013);
    • ownership of SMSF assets;
    • changes to SMSF levy; and
    • SMSF auditor registration.
       
  • On 25 March 2013 the ATO released a list of the membership of the superannuation funds working group.
      
  • On 28 March 2013 APRA released its final reporting requirements for superannuation, with a package of 35 final reporting standards, reporting forms and instructions for APRA-regulated superannuation funds

Further information

All information on this site is of a general nature only and is not intended to be relied upon as, nor to be a substitute for, specific legal professional advice. No responsibility for the loss occasioned to any person acting on or refraining from action as a result of any material published can be accepted.

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