Superannuation Data and Payment Standards 2012 (Cth)

Superannuation Data and Payment Standards 2012

as amended

made under subsection 34K(3) of the Superannuation Industry (Supervision) Act 1993.

Includes amendments up to: Superannuation Data and Payment Standards (Release Authorities, and SMSF Rollovers) Amendment 2021 (F2021L00361).

Compilation date 30 March 2021

Compilation number 4

Prepared by the Office of Parliamentary Counsel.

1 Name of Standard

This Standard is the Superannuation Data and Payment Standards 2012.

3 Application

This Standard determines the standards (superannuation data and payment standards[1]) relating to superannuation data and payment matters[2] for the purposes of the Superannuation Industry (Supervision) Act 1993.

4 Who is covered by this Standard

The superannuation data and payment standards are applicable to[3]:

(a) trustees of APRA-regulated superannuation entities;

(b) trustees of self-managed superannuation funds (SMSFs) except in relation to:

(i) receiving contributions from employers that are related parties of the SMSF; and

(ii) information or payments required under the Superannuation (Unclaimed Money and Lost Members) Act 1999.

(c) employers in their dealings with superannuation entities except for contributions made by an employer for an employee to an SMSF where the employer is a related party of the SMSF.

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;