Expanded Super Reporting

Revised reporting obligations will require superannuation providers to provide statements to us for all members who held an interest in the superannuation plan at any time during a reporting period, not just those for whom contributions were receive

The purpose is to support a range of super reform measures, including enhanced online services for individuals and funds, consolidation of super (within a fund and between funds) and the increased concessional contributions cap for members over 50 whose interests or accounts are valued at less than $500,000 (from 1 July 2014).

Legislation and supporting material

Superannuation Laws Amendment (Capital Gains Tax Relief and Other Efficiency Measures) Bill 2012and Explanatory Memorandum was tabled in parliament on 19 September 2012.