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ARTICLE · 04 SEPTEMBER 2020

Superannuation monthly update – Regulator updates and Legislation

Holding Redlich
Holding Redlich
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Holding Redlich

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This update links to super regulator updates (ATO, ASIC and APRA), and to new legislation relating to superannuation.

AustraliaFinance and Banking
Luke Hooper
Luke Hooper
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Regulator updates

ATO Design and implementation information (3 August 2020)

The ATO has provided information to trustees on the design and implementation of the COVID-19 early release of super package, including an updated questions and answers page, as at 17 July 2020.

The information covers:

  • individual application process, and specifically:
    • application process
    • available accounts
    • bank account details
    • ATO held super
    • correspondence
    • varying an application
    • revoking an application
  • fund notification and release of super, and specifically:
    • fund notification
    • proportioning rules
    • tax and payment summaries
    • payment by fund
    • payment timeframes

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This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.

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