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  • Superannuation Communique December 2016

    Monthly superannuation remittance and recovery processing schedule

    The ATO superannuation processing schedule for January 2017 and February 2017 are outlined below.

    January 2017

    Correspondence issuing week beginning

    Super Guarantee remittance advice (Legacy)

    Monday, 9 January 2017

    First Home Saver Account (FHSA) remittance advice

    Monday, 9 January 2017

    Unclaimed Super Monies (USM) remittance

    Monday, 9 January 2017

    Co-contributions remittance advice

    Monday, 9 January 2017

    Unclaimed Super Monies (USM) recovery

    Monday, 16 January 2017

    Super Guarantee recovery notice (ICP)

    Monday, 16 January 2017

    Super Guarantee remittance advice

    Monday, 16 January 2017

    Superannuation Holding Account special account (SHAsa) remittance advice

    Monday, 23 January 2017

    Unclaimed Super Monies (USM) remittance

    Monday, 23 January 2017

    Low Income Superannuation Contribution (LISC) remittance advice

    Monday, 23 January 2017

    Co-contributions recovery

    Monday, 30 January 2017

     

    February 2017

    Correspondence issuing week beginning

    Low Income Superannuation Contribution (LISC) recovery

    Monday, 6 February 2017

    Super Guarantee remittance advice (Legacy)

    Monday, 6 February 2017

    First Home Saver Account (FHSA) remittance advice

    Monday, 6 February 2017

    Unclaimed Super Monies (USM) remittance

    Monday, 6 February 2017

    Co-contributions remittance advice

    Monday, 6 February 2017

    Unclaimed Super Monies (USM) recovery

    Monday, 13 February 2017

    Super Guarantee recovery notice (ICP)

    Monday, 13 February 2017

    Super Guarantee remittance advice (ICP)

    Monday, 13 February 2017

    Superannuation Holding Account special account (SHAsa) remittance advice

    Monday, 20 February 2017

    Unclaimed Super Monies (USM) remittance

    Monday, 20 February 2017

    Low Income Superannuation Contribution (LISC) remittance advice

    Monday, 20 February 2017

    Co-contributions recovery

    Monday, 27 February 2017

    An update to Departing Australia Superannuation Payments (DASP)

    The government has tabled new legislation to change the rate of tax to 95% on Departing Australia Superannuation Payments (DASP) made to working holiday makers on Visa classes 417 and 462.

    The new law takes effect in respect of payments made from 1 July 2017. The date of the DASP application is not relevant. To minimize the impact on Funds it is recommended they finalise as many DASP applications on hand as possible before 1 July 2017.

    Updated Capital gains tax cap election approved form published

    ATO form NAT 71161 has been updated to take account of changes to the rules on contributions to superannuation of amounts from ‘look-through earn out rights’ that qualify for certain CGT small business concessions: Capital gains tax cap election – instructions and form

    It now includes the following declaration:

    If the personal contribution for which this election is to apply is a financial benefit from a look-through earn out right and I would otherwise be ineligible to make this personal contribution into superannuation, then:

    • I was under 65 years old when the underlying CGT event happened, or
    • I was between 65 and 74 years old and gainfully employed for at least 40 hours in a period of not more than 30 consecutive days during the financial year in which the CGT event happened, and
    • the amount of the contribution does not exceed my CGT cap amount.

    For members completing the form, the Instructions contain further information about look-through earnout rights and restrictions on the time limits for contributing such amounts.

    SuperStream data standard, Government to Business (G2B): the journey so far

    The SuperStream data standard for Government to Business (G2B) transactions was deployed on Monday 14 November. Funds are now able to receive and support rollovers of Unclaimed Superannuation Money (USM) from the ATO as electronic transactions.

    Funds worked with us during the first two weeks in a controlled business deployment verification (BDV) process.

    This gradual cutover of funds helped us confirm the integrity of the system implementation. We provided funds involved in BDV with ‘hyper care support’ and daily communications during this period. We are now extending this BDV period to 2 December to bring more funds and gateways that are ready to deploy.

    We have deferred the USM remittance run originally scheduled for 1 December to 8 December to ensure system changes are working to design and providing correct outcomes for funds and their members

    The BDV process has confirmed the success of the ATO’s G2B release. We have successfully sent USM rollovers to 54 funds totalling $300,147.77 for 303 members. Funds and gateways have confirmed they can receive and process USM rollovers and return appropriate outcome responses. We have also confirmed existing manual USM remittance processes work according to design and will continue for funds yet to come on board.

    Bringing G2B transactions into the SuperStream standard means fewer data integrity issues and more efficient USM rollovers. Funds can also now view their superannuation account, transactions and details online through a new menu option in the business portal.

    See also:

    Superannuation Guarantee Legacy System Decommission

    We plan to consolidate all Superannuation guarantee processing in to the Integrated Core Processing (ICP) system by March 2017, and will decommission the current legacy system by November 2017. Further information will follow in regard to final dates for processing.

    We ask that super practitioners complete all Superannuation payment variation advices (PVA) as soon as possible to avoid delays in processing.

    You should complete the Superannuation payment variation advice (PVA) to notify us that you cannot accept:

    • credit payments provided by us on a remittance advice for one or more super provider members, or
    • debit requests provided by us on a recovery notice for one or more super provider members.

    We will also be making contact with some funds who have not yet presented cheques which have issued from our legacy system, as these will need to be finalised prior to decommissioning.

    Enabling services update: SuperTICK

    We recently announced that the date for mandatory reporting of open and closed accounts using SuperTICK3 has changed from January 2017 to 31 March 2017. This change will allow the ATO to investigate and remediate SuperTICK3 performance issues and provide you with more time to plan your transition.

    SuperTICK versions 1 and 2 will continue to be available until May 2017.

    SuperTICK Lite – a high availability service

    We will release a new SuperTICK high-availability service on 10 December, SuperTICK Lite. You can use this new version of the SuperTICK service when other SuperTICK versions are offline during maintenance or unplanned outages. This high-availability service will offer the full functionality of SuperTICK3 with delayed population of open and closed accounts in ATO’s backend systems until normal service resumes.

    The new service will process transactions coming through SuperTICK versions 1, 2 and 3. However, at this stage it will not process SuperTICK3 bulk requests or bulk data exchange (BDE) requests for SuperTICK versions 1 and 2.

    SuperTICK Lite may not be available during every outage because it relies on certain ATO systems to function. When available, however, you will experience the full functionality of the SuperTICK service during outages.

    We will send a CRT Alert on 9 December as a reminder, and provide you with update reports on the BDV process.

    System Availability and Christmas Shutdown Period

    Industry has raised concerns on service / system availability for the Christmas shutdown period, due to the ATO planning a significant upgrade to a core system, requiring an outage of 9-10 days.

    ATO has confirmed the postponement of this deployment to a later date and the revised Christmas shutdown period is limited to the following weekends:

    Saturday, 17 Dec – Sunday 18 Dec 2016

    Saturday, 31 Dec – Sunday 1 Jan 2017

    Details confirming the exact timing of the outage will be communicated once finalised.

      Last modified: 16 Dec 2016QC 50754