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  • CRT Alert 006/2020

    MATS and COVID-19 early release of super

    The Member Account Transaction Service (MATS) account balance reporting may assist members requesting early release of super due to COVID-19 (coronavirus).

    Some super funds have indicated they would like to report updated account balances for their members ahead of the commencement of coronavirus early release of super measure. Although it's not a requirement to re-report balances, it would give members a more current balance when they access their super details on ATO Online.

    Next steps:

    • If you are considering reporting updated account balances for your members, contact us by emailing SPRFundReporting@ato.gov.au by COB Friday 3 April. This will ensure we can assist and support funds were required.

    Benefits for your members

    Any current balance you report will be displayed on the Fund Details screen on ATO Online within 24-48 hours of processing. The member can see the balance, together with the ‘balance date’. This more current balance may help them determine how much they would like released and from which account or accounts.

    The total super balance calculation only incorporates balances as at 30 June, so any other non-30 June balances will not affect members’ total super balance calculations. Members will be able to view their total super balance calculations on the ‘Total Superannuation Balance’ screen on ATO Online.

    Note: You will not be able to report an accumulation or retirement phase value amount with a non-30 June balance.

    ATO Online Simulator

    Funds can view or guide their members through the ATO Online screens by referring to the external ATO Online simulator. We suggest you use scenarios 4 or 8 as they contain the most simulated super data. Note that this does not yet include the new screen for the coronavirus release of super measure, as that is still being built.

      Last modified: 01 Apr 2020QC 62019