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  • SMSF Rollovers and Release Authorities v3 Co-design Group key messages 9 July 2020

    Welcome

    The chair welcomed attendees, giving the aim for the meeting to be revisiting action items, and catching up on where the group is at in order to move forward.

    Review of action items

    A paper was presented reviewing the action items from the March and June meetings.

    Group discussion involved progress on a number of action items being on hold due to COVID impacts.

    The group were asked to re-visit these items internally, in preparation for an in-depth discussion regarding security and controls at the August meeting.

    Update on technical documents

    The status of feedback on user guide and other technical documentation was discussed in detail.

    Revisiting security and controls

    • A paper from the March meeting was re-presented around the SMSF risk mitigation.
    • The ATO asked that industry share this presentation with their internal colleagues and prepare to discuss these topics at the August meeting of Co-design Group.
    • The group (industry and ATO) were asked to reflect on their experiences with COVID Early Release of Super applications, and what opportunities or learnings we could potentially apply to Rollovers. Industry and ATO to consider these issues, for in-depth discussion at the August meeting.

    Onboarding micro team

    • The group were provided an overview on the Onboarding micro team. The intent for this group is to examine all issues throughout transition period (testing, onboarding, managing multiple versions). This group will also examine artefacts to support this process: testing guide, cutover product guide, and a testing strategy.
    • ATO confirmed FAQs for industry are being collated for everyone to access, together with an evolving lessons learned document to assist entities throughout the transition period.

    July Communication focus

    SMSF awareness messages

    • The group discussed proposals for the timing, frequency and content of upcoming messages, targeting the various segments/entities impacted by the upcoming changes.
      Last modified: 10 Sep 2020QC 63625