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  • No longer accepting spreadsheet TBAR lodgments from 31 October

    We introduced the spreadsheet version of the transfer balance account report (TBAR) form as an interim solution for tax agents.

    Since the functionality of Online services for agents has allowed for online TBAR lodgment since March 2019, we are decommissioning the spreadsheet form on 31 October 2019.

    While the spreadsheet solution allowed us to provide an electronic option for some agents when they commenced their transfer balance account reporting, it is linked to a higher error rate associated with reverse workflow for agents and slower processing times.

    Advantages of online TBAR lodgment

    The online TBAR form has a number of advantages for tax agents over paper lodgments and the interim spreadsheet option, including:

    • pre-filling the supplier and provider details with your details and your SMSF client details
    • pre-filling the member details for second and subsequent events for the same member
    • inbuilt verification rules to reduce reporting errors and reverse workflow
    • events reported via the online form are generally processed by our system within 24 hours. If the agent is also an agent for the individual, they will be able to see that information reflected in the member's transfer balance account at the same time.

    Next quarterly TBAR due date

    The next due date is 28 October 2019. You are only required to report if the SMSF falls under the event-based reporting framework and any member had a transfer balance account event occur in July–September.

    We will not be processing spreadsheet TBAR forms that are received after midnight of 31 October 2019. We will advise agents that we will not process their lodgment and redirect them to Online services for agents.

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      Last modified: 19 Aug 2019QC 59930