Taxation Administration Member Account Transaction Service – the Reporting of Information Relating to Superannuation Account Transactions 2018 (Cth)

Legislative Instrument

Taxation Administration Member Account Transaction Service – the Reporting of Information Relating to Superannuation Account Transactions 2018

I, James O'Halloran, Deputy Commissioner Superannuation, make this determination under section 390-5 and section 390-20 of Schedule 1 to the Taxation Administration Act 1953.

Signed by

Deputy Commissioner Superannuation

Dated: 24 May 2018

1. Name of instrument

This determination is the Taxation Administration Member Account Transaction Service – the Reporting of Information Relating to Superannuation Account Transactions 2018.

2. Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislation and will apply from 1 July 2018.

3. Authority

This determination is made under sections 390-5 and 390-20 of Schedule 1 to the Taxation Administration Act 1953 (TAA 1953).

4. Application

This instrument applies to every superannuation provider in relation to a superannuation plan (excluding a self managed superannuation fund) and every life insurance company that is required to lodge a Member Account Transaction Service (MATS) form.

The MATS form is the approved form for the giving of a statement to the Commissioner of Taxation (the Commissioner) under section 390-5 and section 390-20 of Schedule 1 to the Taxation Administration Act 1953 (TAA 1953) in relation to a superannuation account transaction for an individual.

The MATS form is required to be lodged to report information relating to the following superannuation account transactions:

1. Employer contributions – no later than 10 business days after the day the contribution amount is allocated to the individual's superannuation account, or such later date as the Commissioner may allow.