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  • Amendment to Reuniting More Superannuation

    The Government announced the Superannuation - facilitating closure of eligible rollover funds measure in the 2019–20 MYEFO. An amendment to the Bill proposes that super providers will be able to make Trustee Voluntary Payments (TVPs) of any other amounts they hold for members, former members or non-member spouses to the Commissioner.

    On 22 March 2021 Treasury Laws Amendment (Reuniting More Superannuation) Act 2020External Link received Royal Assent.  

    Eligible Rollover Funds (ERFs) must identify accounts they hold on 1 June 2021. The statement and payment will be due and payable by:

    • 30 June 2021 - for ERF low balance accounts (less than $6,000).
    • 31 January 2022 - for all other accounts held by ERFs.

    If an account balance decreases or increases after 1 June 2021 it does not change the due date.

    ERFs can commence the voluntary transfer of any amounts to the ATO from 1 June 2021 up until the day the statement and payment is due, and no amounts can be transferred to ERFs on or after 1 May 2021.

      Last modified: 29 Mar 2021QC 65095