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  • CRT Alert 053/2019

    Additional tax on concessional contributions (Division 293) assessments

    Following system upgrades, member account attribute service (MAAS) and the member account transaction service (MATS) data will now be used in the calculation of Division 293 tax payable.

    We will soon start issuing ‘Additional tax on concessional contributions (Division 293)’ assessments for the 2018–19 financial year.

    We expect to issue about 120,000 assessments to individuals in November and estimate that this will result in approximately 60,000 release authorities issued to funds over the November to December period.

    We are providing this advice as the estimated volume is significantly larger than normal.

    We would like funds to be prepared, noting that November is a busy month for processing including other government payments such as proactive consolidation of ATO held super, government contributions and low income superannuation tax offsets (LISTO).

      Last modified: 04 Nov 2019QC 60518