Welcome and opening remarks
Kellie Johnson opened the meeting with the acknowledgment to country and welcomed those in attendance and newly appointed members, noting Larissa Evans as an apology.
Your Future, Your Super
Tracie Crowden provided an overview of the Your Future, Your Super measure
Treasury Laws Amendment (Your Future, Your Super) Bill 2021 was introduced to Parliament on 17 February 2021. The Bill was referred to the Senate Economics Legislation Committee for inquiry and report by 22 April 2021. The inquiry hearings were held on 7–8 April 2021.
The ATO has continued to design and build the Comparison Tool and Stapling Service in preparation for the proposed policy start date of 1 July 2021.
The Stapling Service will be delivered in two phases. Phase one will deliver the service making it available in the ATO online platform. Phase two is the wholesale solution which integrates the stapling service request into employer’s payroll systems making it a more automated process. A proposed commencement date for phase two is 1 July 2022.
Rollovers v3 update
Belinda Black provided an update on SuperStream rollovers version 3 (including SMSFs rollovers and electronic release authorities).
Updated web content has been published to the SuperStream Rollover v3 web page noting the readiness schedules for large Australian Prudential Regulation Authority (APRA) funds and SMSF providers are being monitored closely and updated regularly.
An Issues register has been created and published for the onboarding and implementation phase.
The cohort schedule for B2B testing has been developed. The schedule incorporates SMSF providers and APRA funds assigned to each cohort based on their readiness dates. The ATO is monitoring the gateways linked to each APRA fund to ensure sufficient cross validation of testing.
The SMSF verification service (SVS) and SMSF memberTICK Business Implementation Guides are in the final stages of being published.
The Rollover v3 Implementation Forum (RIF) is now meeting fortnightly to discuss with industry the onboarding and implementation schedules, any issues identified and process questions.
The ATO advised industry that the Bulk Data Exchange solution remains in place to access the SMSF verification service.
The interim solution hasn’t been implemented between the member verification service (MVS) closing and the SVS being available as the ATO are anticipating MVS will continue until the Rv3 transition period concludes. Further confirmation to be provided by the ATO on this item in due course and will be shared via the ATO Superannuation Employment Change Network (SECN) and ATO Rollover Implementation Forum.
The changes currently communicated via the ATO website is for the manual process to accommodate the shift in workload within the ATO if an error or failure of the MVS service occurs.
The user guide is currently being updated to define unclaimed superannuation money (USM) reason code V as a required code for the current SMSF Rollover v3 build specifications. The ATO to confirm the date when the updated user guide will be published.
Reuniting More Super (ERF and trustee discretion payments)
Belinda Black provided an update on the Reuniting More Super (ERF and trustee voluntary payments) initiative.
The ATO has been engaging with eligible rollover funds (ERF) to gain an understanding of their readiness to meet the legislative change.
This has been followed by direct communication to each ERF to request information in relation to reporting volumes and timeframes. This is to ensure the ATO can support those ERFs and have the appropriate functionality and resources in place to meet the inbound transaction volumes.
The ATO has been working with internal and external stakeholders to prepare for the Trustee Voluntary Payment (TVP) reporting window scheduled for the last two weeks in May.
The ATO would welcome any information industry can provide on their anticipated TVP volumes a week prior to assist the ATO with managing workloads.
Industry members noted more direct and targeted messaging and information to funds on how proactive consolidation works would be beneficial.
The ATO will consider tabling an item at the next SECN regarding disclosing aggregate ERF volumes.
Unclaimed superannuation money reporting
Alastair Ramsay provided an update on USM reporting.
A reminder to funds of the USM reporting due date of 30 April 2021 is approaching.
A number of news articles have been published to assist funds in ensuring accurate reporting of their USM.
With preparation underway for the TVP reporting window from 17 May to 28 May, it is important that no USM reporting is completed during this TVP reporting window.
A reminder that the ATO’s Client Relationship Management team are always available to assist funds with any issues or concerns.
Members discussed the potential impacts and dependencies on other processes if large volumes of section 20C notices are received during the USM reporting period. The ATO will keep funds updated.
Operational insights report
Kellie Johnson provided an update on the Operational Insights Report
The Operational Performance Report has been renamed to Operational Insights Report (OIR). It was agreed at the March co-design group meeting that a new name was required to better reflect the intent of the report.
An external engagement and communication plan have been developed and supported by the co-design group.
The plan provides the narrative and timeline to support the implementation of the OIR as well as the approach to communication activities such as news articles, web content and direct mail to trustees.
The OIR will be developed and assessed in a number of phases:
- First report will be compiled for the January to March 2021 period. This will be tested and reviewed with internal ATO stakeholders.
- The June 2021 quarter report and process will include any learnings from the first report. This will be shared with the co-design group for feedback.
- Once testing and consultation has been completed the first ‘go live’ report for the quarter ending October 2021 will be issued to industry.
The ATO reaffirmed the OIR is not a compliance tool and is not a replacement of the previous risk differentiation framework (RDF) diagnostic report. Industry members suggested adding further context to the engagement and communication plan to note the RDF diagnostic report no longer exists.
Fund engagement updates
Alastair Ramsay provided an update on the Online services for business project and the Compassionate Release of Super internal review.
The Online services for business portal is now live as of 9 April 2021. Online services for business is now the default log in option, however, the Business Portal remains accessible.
The Superannuation and Employer Obligations business line in the ATO is undertaking a review of the internal administrative program for compassionate release of super.
The review will focus on the end to end process commencing with internal improvements for ATO staff, particularly around assessing applications.
The review team are formulating a plan to engage with industry to understand administrative processes and experiences encountered with compassionate release of super. Industry members welcomed and support the review.
It is important to note this is not a policy review. The intent is to focus on the administrative processes within the current legislative framework.
Rod Moreland provided an update on the Super Enquiry Service project.
The private beta has now been completed. The ATO thank industry members for their support and contributions during the private beta.
The ATO continues to work through the feedback provided and remaining issues and will keep industry informed as the super enquiry service progresses.
Members noted the timing out issue is of specific focus, particularly where a ticket has not been created as the service does not retain data already entered in prior to the system timing out. It was noted the timing out issue is unlikely to change due to the way the system has been built, however the ATO is still investigating potential solutions.
Members discussed the differences in functionality and the accessibility of various services such as myGov and Access Manager between Chrome and Internet Explorer browser usage.
Other business and close
Sue Pearce gave thanks to the ATO Client Relationship Management team, acknowledging that it is a valued service and noted the great job the team do.
Members were provided with three papers for noting:
- SuperMatch v9 update
- Published updated tables of the indexation of the super contributions cap
- Super changes industry roadmap.
News articles have been published regarding the indexation of the super contribution caps:
- Super news – Indexation of the super contribution caps
- SMSF news – Super contribution caps will increase from 1 July 2021.
Kellie thanked members for their attendance and contributions.Summary of the key topics discussed at the Superannuation Administration Group meeting 21 April 2021.