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  • CRT Alert 055/2018

    15 June 2018

    Additional MCS or TBAR reporting may be required

    There is currently a known issue where an individual’s Total superannuation balance (TSB) includes amounts which have been duplicated. This error is caused by our systems being unable to match Member Contribution Statements (MCS) and Transfer Balance Account Report (TBAR) Forms.

    The result is an inflated total superannuation balance due to a single account being counted twice. This incorrect TSB may result in incorrect outcomes including the individual having their non-concessional contributions cap reduced to zero or making them ineligible for a co-contribution.

    We have published a document which describes the reporting scenarios that cause a duplicate account and the remediation required.

    Additional reporting to resolve any duplicate accounts is required to be completed by 8 September 2018.

    Next step:

      Last modified: 15 Jun 2018QC 56012