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  • CRT Alert 70/2017

    13 November 2017

    Approach to transitional year for event-based reporting

    Recently we've worked in close partnership with key industry representatives to co-design the new event-based reporting solution to support more granular and timely member reporting.

    The new reporting framework is a shift away from annual, aggregated reporting via the Member Contributions Statement (MCS) to transactional reporting triggered by a business event.

    The following important information relates to how you will transition to the new event-based Member Account Transaction Service (MATS).

    MATS implementation timeframes

    The shift to event-based reporting is a significant change and industry and the ATO support an extended cutover period.

    You can start reporting member transactions through MATS from 1 July 2018 and you must cutover to MATS no later than 31 March 2019.

    The legislated compliance date for MATS is 1 April 2019. We may consider extensions only in exceptional circumstances and only with prior approval.

    If you cutover to MATS after 1 July 2018, you'll need to provide back reporting.

    Reporting arrangements during the transitional period

    Back reporting

    All transactions that occur from 1 July 2018 need to be reported through MATS. If you cutover after this date you'll need to back report transactions that occur between 1 July 2018 and the date you cutover.

    Staged approach to reporting full transaction details

    From the MATS conformance date of 1 April 2019 you will be required to report more detailed transactional information via MATS than you currently do. If your systems are able to capture and report the full set of information from the date you cutover, you should do so.

    During the transition period leading up to 1 April 2019, we are adopting a more flexible approach to the level of detail you report, as outlined below.

    • When you cutover to MATS during the transitional period (that is, before 1 April 2019), you'll only need to report a minimum level of detail.
    • If you need to provide a back report to 1 July 2018, you will also only need to report a minimum level of detail.
    • From 1 April 2019 you'll be required to report the full transaction details.

    Table 1 below outlines the minimum level of detail you'll need to report at each of these stages. Please note that all data below is conditional – that is, if you hold this data you are required to report it.

    Your readiness assessment

    In the coming weeks we'll send you a letter to ask you about your anticipated readiness dates and provide more information about how we can help you. In the meantime, please consider your organisation's most likely deployment approach and be prepared to provide details in response to our readiness letter.

    More information

    Information about the design of the event-based reporting framework is detailed in the technical and business documents on the SBR website. You should use these documents to inform your build.

    In addition, over the coming months we will:

    • host a webinar in December 2017 to talk through the transitional approach in more detail
    • provide more detailed information on the design and back reporting processes
    • provide increased support and personalised assistance during readiness and implementation to ensure a smooth transition. 

    Next steps:

    Table 1 – Information reporting requirements during MATS transition period

     

    When you cutover to MATS

    Back report (from 1/7/2018 until MATS cutover)

    From 1 April 2019

    Employer contributions

    Yes

    Yes

    Yes

    Discrete reporting of salary sacrifice contributions

     

     

    YesSee note 1

    Period start date

     

     

    Yes

    Period end date

     

     

    Yes

    Employer information

     

     

    Yes

    Employer identifier

     

     

     

    Employer name

     

     

    Yes

    Employee payroll number identifier

     

     

    Yes

    Employment end date

     

     

    Yes

    Employment end date reason

     

     

    Yes

    Non-employer transactions

    Yes

    Yes

    Yes

    Discrete child contributions

    can be reported as spouse. See note 2

    can be reported as spouse. See note 2

    can be reported as spouse. See note 2

    Retirement phase event

    Yes

    (TBAR subsumed into MATS)

    Provided through TBAR

    Yes

    Third party data

    Yes

    (TBAR subsumed into MATS)

    Provided through TBAR

    Yes

    Notice of intent

    YesSee note 3

    YesSee note 3

    Yes

    Note 1: At a minimum you must report salary sacrifice separately; however, our preference is that you report all employer contribution types separately. Please note, if you receive and store these amounts as discrete items, you must report them separately.

    Note 2: We prefer discrete reporting of spouse contributions and child contributions. However, if you don't receive or store these as separate amounts, you can aggregate them and report them as spouse contributions. You should not report spouse and child contributions as personal contributions.

    Note 3: We'll require the details of acknowledged notices of intent from 1 July 2018 and this will be supported by a legislative instrument. We're developing an alternative solution in case you're unable to provide details of notices acknowledged prior to 1 April 2019.

      Last modified: 14 Nov 2017QC 53913