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10 Apr 13 SMSFs - a new standard for rollovers and contributions

The ATO advises that from 1 July 2013, Australian Prudential Regulation Authority (APRA) funds can roll over to self-managed superannuation funds (SMSFs) using the new standard wherever an SMSF provides the relevant electronic service and payment details.

From 1 July 2014, all super funds, including SMSFs, must receive contributions in the new standard.

From 1 January 2015, it is expected that SMSFs will be required to use the new standard for payments and receipt of rollovers.

The ATO says it will be focusing on supporting SMSFs during the introduction of the new standard.


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