Following the Government’s announcement to defer aspects of the implementation of the SuperStream contribution data standards to 1 July 2015 (see above), on 27.5.14 the Tax Office registered the Superannuation Data and Payment Standards (Contribution Transitional Arrangements) Amendment 2014. The Standard amends the contribution transitional arrangements contained in Sch 1 to the Superannuation Data and Payment Standards 2012 by extending the existing “contribution transition-in period” by 12 months to 30 June 2017.
To support the implementation of the contributions standard, the Commissioner has also provided additional transition-in arrangements to expand the options available to medium to large employers (and trustees of superannuation entities) to transition to full implementation of the contributions standard.
DATE OF EFFECT: The amendments commence on Wed 28.5.2014.
In a letter to RSE licensees on Tue 27.5.2014, APRA has also deferred the commencement of its Superannuation Reporting Standard SRS 711.0 (Superstream Benchmarking Measures) until 1 July 2015
[LTN 100, 27/5/14]