Superannuation Data and Payment Standards (Payments and Information from the Commissioner of Taxation) Amendment 2016 (Cth)

Standard

Superannuation Data and Payment Standards (Payments and Information from the Commissioner of Taxation) Amendment 2016

I, James O'Halloran, Deputy Commissioner of Taxation, make this Standard under subsection 34K(3) of the Superannuation Industry (Supervision) Act 1993.

Deputy Commissioner of Taxation Dated: 18 October 2016

1. Name of Standard

This Standard is the Superannuation Data and Payment Standards (Payments and Information from the Commissioner of Taxation) Amendment 2016.

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 trustees of superannuation entities that are required to comply with the Superannuation Data and Payment Standards (F2014C00783).

4. What this Standard does

This Standard amends clause 5 of the Superannuation Data and Payment Standards 2012.

5. Amendment

The following amendment is made to clause 5 of the Superannuation Data and Payment Standards 2012:

(a) Clause 5

Omit; substitute:

5 When the Standard applies

Subject to clause 6, this Standard applies to conduct by an entity as follows:

(a) a trustee of an APRA-regulated superannuation entity, in relation to rollovers and transfers as the transferring fund or receiving fund, on and after 1 July 2013;

(b) a trustee of an APRA-regulated superannuation entity, in relation to receiving contributions from employers on and after 1 July 2014;

(c) a trustee of an APRA-regulated superannuation entity, in relation to receiving payments from, and returning amounts required to be repaid to, the Commissioner of Taxation on and after 14 November 2016;