Commonwealth Numbered Regulations Commonwealth Numbered Regulations
[1] After regulation 15
insert
16 Information to be included in superannuation provider's statement on superannuation contributions
(1) This regulation applies to a superannuation provider that has received employer contributions on or after 1 July 2005.
Note Superannuation provider is defined in subsection 6 (1) of the Act.
(2) For subsection 78 (3) of the Act, a statement given by the superannuation provider in relation to a fund or RSA must contain the information set out in this regulation in respect of a member of a fund or holder of an RSA for a year.
Note 1 A reference to a member of a fund does not include a member of the fund whose entitlements have been transferred out of the fund during the year. A reference to a holder of an RSA does not include a holder whose entitlements have been transferred out of the RSA during the year.
Note 2 Under subsection 78 (1) of the Act, the statement must be in an approved form.
(3) The statement must include:
(a) the provider's details; and
(b) the details of each member of the superannuation fund (including each member for whom a benefit certificate is current under the Act) or holder of an RSA; and
(c) details of any contributions that have been made by or on behalf of the member or RSA holder for the year, and any amounts reported to the superannuation provider under section 78A of the Act.
(4) However, the superannuation provider is not required to provide information mentioned in subregulation (3) if the Commissioner of Taxation advises the provider that the information is not required.
Note The Commissioner of Taxation will provide guidance on whether particular information mentioned in subregulation (3) is relevant for the statement of particular superannuation providers.
(5) If the fund is a self managed superannuation fund within the meaning of section 17A of the S uperannuation Industry (Supervision) Act 1993 , the superannuation provider must give the information by 31 March after the end of the financial year in which the contributions are received.
(6) If the fund is not a self managed superannuation fund, the superannuation provider must give the information by 31 October after the end of the financial year in which the contributions are received.
17 Reporting between superannuation providers
(1) This regulation applies to a superannuation provider that has received employer contributions on or after 1 July 2005.
Note Superannuation provider is defined in subsection 6 (1) of the Act.
(2) For subsection 78A (3) of the Act, a statement given by the transferring superannuation provider to the receiving superannuation provider must contain the information in relation to contributions received for the member or RSA holder that the transferring superannuation provider would have been required to report under section 78 of the Act and regulation 16, if the member or RSA holder had remained a member or holder of the RSA at the end of the year.
Note 1 Under subsection 78A (1) of the Act, the statement must be in an approved form.
Note 2 Under subsection 78A (1) of the Act, the transferring provider must provide a statement as set out in these regulations within 30 days after the day of the transfer.
(3) However, the superannuation provider is not required to provide information mentioned in subregulation (2) if the Commissioner of Taxation advises the provider that the information is not required.
Note The Commissioner of Taxation will provide guidance on whether particular information mentioned in subregulation (2) is relevant for the statement of particular superannuation providers.