Document ID: chunk:federal_register_of_legislation:F2021C00357:body:0:p1
Version: federal_register_of_legislation:F2021C00357
Segment Type: other
Provision Reference: 
Character Range: 0–3041

Superannuation Data and Payment Standards 2012

as amended

made under subsection 34K(3) of the Superannuation Industry (Supervision) Act 1993.

Includes amendments up to: Superannuation Data and Payment Standards (Release Authorities, and SMSF Rollovers) Amendment 2021 (F2021L00361).

Compilation date 30 March 2021

Compilation number 4

Prepared by the Office of Parliamentary Counsel.

    1 Name of Standard

   This Standard is the Superannuation Data and Payment Standards 2012.

    3 Application

   This Standard determines the standards (superannuation data and payment standards[1]) relating to superannuation data and payment matters[2] for the purposes of the Superannuation Industry (Supervision) Act 1993.

    4 Who is covered by this Standard

   The superannuation data and payment standards are applicable to[3]:

        (a) trustees of APRA-regulated superannuation entities;

        (b) trustees of self-managed superannuation funds (SMSFs) except in relation to:

           (i) receiving contributions from employers that are related parties of the SMSF; and

           (ii) information or payments required under the Superannuation (Unclaimed Money and Lost Members) Act 1999.

        (c) employers in their dealings with superannuation entities except for contributions made by an employer for an employee to an SMSF where the employer is a related party of the SMSF.

    5 When the Standard applies

   Subject to clause 6, this Standard applies to conduct by an entity as follows:

        (a) a trustee of an APRA-regulated superannuation entity, in relation to rollovers and transfers as the transferring fund or receiving fund, on and after 1 July 2013;

        (b) a trustee of an APRA-regulated superannuation entity, in relation to receiving contributions from employers on and after 1 July 2014;

        (c) a trustee of an APRA-regulated superannuation entity, in relation to receiving payments from, and returning amounts required to be repaid to, the Commissioner of Taxation on and after 14 November 2016;

        (d) a trustee of an SMSF, in relation to receiving contributions from employers that are not related parties of the SMSF on and after 1 July 2014;

        (da) a trustee of an SMSF, in relation to rollovers and transfers as the transferring fund or receiving fund, requested on and after 31 March 2021;

        (db) a trustee of an APRA-regulated superannuation entity or an SMSF, in relation to a release authority issued by the Commissioner of Taxation under Division 131 of Schedule 1 to the Taxation Administration Act 1953, on and after 31 March 2021;

        (e) a medium to large employer, in relation to contributions for an employee, other than contributions to an SMSF that is a related party of the employer, on and after 1 July 2014; and

        (f) a small employer, in relation to contributions for an employee, other than contributions to an SMSF that is a related party of the employer, on and after 1 July 2015.

    6 The Standard does not apply