RSA Data and Payment Standards (Contribution Transitional Arrangements) Amendment 2014 (Cth)

Standard

RSA Data and Payment Standards (Contribution Transitional Arrangements) Amendment 2014

I, Alison Lendon, Deputy Commissioner, Superannuation make this Standard under subsection 45B(3) of the Retirement Savings Accounts Act 1997.

Alison Lendon Dated: 27 June 2014

1. Name of Standard

This Standard is the RSA Data and Payment Standards (Contribution Transitional Arrangements) Amendment 2014.

2. Commencement

This Standard commences on the day after its registration on the Federal Register of Legislative Instruments.

3. Application

This Standard applies to employers and RSA providers that are required to comply with the RSA Data and Payment Standards 2013.

4. What this Standard does

This Standard amends the contribution transitional arrangements contained in Schedule 1 to the RSA Data and Payment Standards 2013.

5. Amendment to Schedule 1 to the RSA Data and Payment Standards 2013

The following amendment is made to Schedule 1 to the RSA Data and Payment Standards 2013:

(a) Clause 4

Omit; substitute:

4. Contribution transitional arrangements

4.1 Contribution transition-in period

(a) For the purposes of this Schedule, the contribution transition-in period means the period between 1 July 2014 and 30 June 2017.

(b) Alternate electronic file formats described in paragraphs 4.2(b) and 4.2(c) must not be used by an employer or an RSA provider after 30 June 2017.

4.2 Contribution transition-in arrangements – circumstances where electronic file formats that do not conform to the Standard can be used

Medium to large employer

(a) For the period 1 July 2014 until 2 November 2014, a medium to large employer may send the information required by regulation 5.07 in the Retirement Savings Accounts Regulations 1997 to an RSA provider in an electronic file format that does not conform with the Standard provided that: