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  • Superannuation

    [201929] Practice Statement – Superannuation Industry (Supervision) Act Section 166: Administrative penalties

    Registered

    September 2019

    Expected completion

    November 2019

    Status

    We are consulting with professional associations and industry representatives on this product until mid-November 2019.

    Purpose

    To seek feedback from trusted advisors of the ATO on a product to assist case officers and generate understanding of the administration of the penalties within the broader superannuation community.

    Description

    The purpose of the practice statement is to provide guidance on:

    • when an entity becomes liable to one or more administrative penalties under the Superannuation Industry (Supervision) Act 1993 (SISA)
    • which entities are liable to pay the administrative penalty
    • the Commissioner's remission considerations; and
    • objection, review and appeal rights.

     

    Who we are consulting

    • Professional associations
    • Industry representatives

     

    Contact

    PAGSEO@ato.gov.au

    [201915] Protecting your super implementation

    Registered

    May 2019

    Expected completion

    December 2019

    Status

    Implementation information, documents and forms continue to be available on Let’s TalkExternal Link for Super Funds to review and provide feedback on. Additional documents may be added for review and feedback over the next month, as required.

    Purpose

    To:

    • build on the work the ATO completed with the Super Measures Group to resolve issues and understand industry readiness for Protecting Your Super (PYS)
    • work closely with stakeholders and provide answers to the issues raised to assist the industry to be ready for the 30 June 2019 commencement date.

     

    Description

    To provide guidance to trustees on the administration of the changes under the PYS package and give trustees an opportunity to provide feedback on the implementation material.

    Who we are consulting

    Superannuation funds

    Contact

    Louie Markovski, Director, Protecting Your Super project team
    pysproject@ato.gov.au
    Phone (03) 9275 5333

      Last modified: 13 Nov 2019QC 54486