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  • CRT Alert 019/2019

    SuperStream Rollover V3 - updated Business Implementation Guides

    Earlier this year we provided documents for consultation that support the implementation of SuperStream Rollovers Version 3 - extending to self-managed superannuation funds (SMSFs).

    Following this process the documents below have been updated:

    • SMSFmemberTICK Business Implementation Guide (BIG)
      • updated the title of the service throughout
      • 2.1 - added transaction flow diagram (figure 1 - previously in 2.10)
      • 2.2 - removed 'optional' column from table 1 (not applicable for this service)
      • 2.6 - added example of tax agent supplying tax agent number to illustrate 'conditional'
      • 2.7 - intermediary section of the message is now optional, however intermediary ABN and intermediary business name are now mandatory (the section is optional, however when completing this section ABN/business name must be supplied)
      • 2.9 - individual's TFN changed from optional to mandatory (we are unable to provide 'corrected' TFNs through this service, therefore service cannot be used without TFN)
      • 2.9 - individual's given name changed from mandatory to optional
      • 3.2 - inserted comment clarifying APRA regulated funds will use SuperTICK to validate member TFNs
      • attachment A - updated SMSFmemberTICK hyperlink on SBR
      • minor re-wording throughout to enhance readability.
       
    • SMSF verification service (SVS) BIG
      • 2.1 - clarification that bank details will not be verified with financial institution
      • 2.3 - removed 'optional' column from table 1 (not applicable for this service)
      • 2.6 - added example of tax agent supplying tax agent number to illustrate 'conditional'
      • 2.7 - intermediary section of the message is now optional, however intermediary ABN and intermediary business name are now mandatory (the section is optional, however when completing this section ABN/business name must be supplied)
      • 2.9 - individual's TFN changed from optional to mandatory (transferring fund must hold a validated member TFN in order to roll over in the standard)
      • 2.10 - clarification that verification is not conducted on the bank account name (but this is required for record keeping purposes)
      • 4.3 - added comment to explicitly state transferring fund may choose to not proceed with rollover, following 'not verified' response
      • 4.4 - more guidance for action following 'not verified - SMSF' response
      • 4.5 - more guidance for action following 'not verified - member' response
      • attachment A - updated SVS hyperlink on SBR
      • minor re-wording throughout to enhance readability.
       

    Next step:

    Access the business implementation guides on sbr.gov.au:

    See also:

      Last modified: 12 Mar 2019QC 58206