Lodgment of returns and statements for the year ended 30 June 2003 - Superannuation

Administered by Department of the Treasury

Legislation au F2005B02648 Not in force Legislative Instrument

Legislation content

AUSTRALIAN TAXATION OFFICE

 

Superannuation Industry (Supervision) Act 1993, Superannuation Contributions Tax (Assessment And Collection) Act 1997 Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Act 1997

 

 

LODGMENT OF RETURNS AND STATEMENTS IN ACCORDANCE WITH:

THE SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993,

THE SUPERANNUATION CONTRIBUTIONS TAX (ASSESSMENT AND COLLECTION) ACT 1997, AND

THE SUPERANNUATION CONTRIBUTIONS TAX (MEMBERS OF CONSTITUTIONALLY PROTECTED SUPERANNUATION FUNDS) ASSESSMENT AND COLLECTION ACT 1997.

 

 

LODGMENT OF RETURNS IN ACCORDANCE WITH THE SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993
 

Where a taxpayer is a self managed superannuation fund (as defined in the Superannuation Industry (Supervision) Act 1993 (SI(S) Act) at any time during the year of income ended 30 June 2003 (or approved period in lieu), then in accordance with section 36A of the SI(S) Act the period for lodgment of a return under that section is the period ending on the day that the taxpayer is required to lodge its income tax return.

 

 

LODGMENT OF STATEMENTS (IN A CERTAIN FORM) BY SUPERANNUATION PROVIDERS

 

In accordance with section 14 of the Superannuation Contributions Tax (Assessment and Collection) Act 1997 (the SCT(A&C)Act) and section 13 of the Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Act 1997 (the CPAct), I require a superannuation provider, other than a self-assessing superannuation provider, who keeps particulars required to be given in a statement under section 13 of the SCT(A&C)Act and section 12 of the CP Act by a data processing device, or a person who keeps particulars required to be given in a statement under section 13 of the SCT(A&C)Act or section 12 of the CPAct for or on behalf of a superannuation provider by a data processing device, to give to me, on or before 31 October 2003, the particulars required to be given in a statement in accordance with section 13 of the SCT(A&C)Act or section 12 of the CPAct in any of the following ways (subject to the restrictions on the use of imagable paper forms):-

 

  •        Corporate External Gateway

 

Data can be transmitted using the Corporate External Gateway (CEG).  Data sent via CEG must be formatted according to the ATO Superannuation Member Contributions Statement Magnetic Media Specification final Version 6.1 (MCS).

  •        Electronic Commerce Interface (ECI)
     

Data can be transmitted using the Internet.  Data sent via the Internet must be formatted according to the MCS.

 

  •        Magnetic Information Processing Services
     

Data can be transmitted using Magnetic Information Processing Services (MIPS) on the following magnetic media:

 

1)                       zip disk; or

2)                       1 8 or 3 6 track cartridge; or

3)                       90 metre, 40mm DAT with recording density of DDSI (that is, uncompressed); or

4)                       3.5 inch High Density floppy disk; or

5)                       CD-ROM

 

Data sent via MIPS must be formatted according to the MCS.

 

  •        Electronic Form (SuperReport)

 

Data may be captured using an electronic form (SuperReport) which can be obtained from the ATO or via the ATO's website. This data can be forwarded to the ATO using ECI, MIPS or CEG.

 

  •        Electronic Lodgment Service (ELS)
     

Data may be transmitted by participants on the ATO's ELS program who hold ATO certified software, which contains the surcharge contribution lodgment option.

 

  •        Imagable Paper Form

 

- Data may be sent, typed or handwritten, on an imagable paper form provided by the ATO for the purpose.

-            It is not acceptable to photocopy or otherwise duplicate information onto an imagable paper form.  All information must be entered by hand or by typewriting.

 

Restrictions in relation to imagable paper forms.

 

A superannuation provider that does not keep the particulars required to be given in a statement under either section 13 of the SCT(A&C)Act or section 12 of the CPAct by a data processing device, or a person who does not keep particulars required to be given in a statement under section 13 of the SCT(A&C)Act or section 12 of the CPAct for or on behalf of a superannuation provider by a data processing device may use imagable
paper forms but,

 

i) may not lodge statements by way of imagable paper forms if there are 100 or more members; and

ii) may not lodge more than 20 imagable paper forms.


 

EXEMPTION FROM REQUIREMENT TO GIVE PARTICULARS IN A SPECIFIC FORM

Nothing in this notice prevents me or an authorised officer of the Australian Taxation Office from exempting a superannuation provider who keeps particulars required to be given in a statement under section 13 of the SCT(A&C)Act or section 12 of the CPAct by a data processing device, or a person who keeps particulars required to be given in a statement under section 13 of the SCT(A&C)Act or section 12 of the CPAct for or on behalf of a superannuation provider by a data processing device, from giving those particulars by way of a data processing device.

LODGMENT OF STATEMENTS (IN A CERTAIN FORM) BY
SELF-ASSESSING SUPERANNUATION PROVIDERS

In accordance with section 15A of the Superannuation Contributions Tax (Assessment and Collection) Act 1997 (the SCT(A&C) Act), I have determined that a self-assessing superannuation provider for the financial year ended 30 June 2003 is a superannuation provider that:

 

(a)           has fewer than five members; and

(b)           holds contributed amounts in relation to those members for the financial year; and

(c)           does not give a statement to me under subsection 13(2) of the SCT(A&C) Act in relation to those members for the financial year on or before 31 October 2003 (or such later date as I have allowed); and

(d)           can calculate the adjusted taxable income for each of those members for the financial year; and

(e)           can calculate for each member whose adjusted taxable income is greater than the surcharge threshold:

i) the surchargeable contributions; and

ii)             the rate of surcharge that applies; and

iii)           the surcharge payable.

 

I require a self-assessing superannuation provider to prepare a statement that contains the particulars referred to in subsection 13(2) of the SCT(A&C) Act and to:

a)                   send the statement to me by electronic transmission on or before, but no later than, the day on which the superannuation provider is required to lodge its income tax return; and

b)                  pay the amount of the surcharge assessed to be payable within seven days of sending the statement.

 

For the purposes of sending a statement by electronic transmission, a self-assessing superannuation provider may use any of the following:

 

  •        Corporate External Gateway
     

Data can be transmitted using the Corporate External Gateway (CEG).  Data sent via CEG must be formatted according to the ATO Superannuation Member Contributions Statement Magnetic Media Specification final Version 6.1 (MCS).

 

  •        Electronic Commerce Interface (ECI)
     

 Data can be transmitted using the Internet.  Data sent via the Internet must be formatted according to the MCS.

 

  •        Magnetic Information Processing Services
     

 Data can be transmitted using Magnetic Information Processing Services (MIPS) on the following magnetic media:

1)                        zip disk; or

2)                        1 8 or 3 6 track cartridge; or

3)                        90 metre, 40mm DAT with recording density of DDSI (that is, uncompressed); or

4)                        3.5 inch High Density floppy disk; or

5)                        CD-ROM

 

Data sent via MIPS must be formatted according to the MCS.

 

 

 

 

  •        Electronic Form (SuperReport)


Data may be captured using an electronic form (SuperReport) which can be obtained from the ATO or via the ATO's website.  This data can be forwarded to the ATO using ECI, MIPS or CEG.

 

  •        Electronic Lodgment Service (ELS)
     

Data may be transmitted by participants on the ATO's ELS program who hold ATO certified software, which contains the surcharge contribution lodgment option.

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PENALTIES FOR NON-COMPLIANCE

A trustee who contravenes the requirement to lodge a self managed superannuation fund return under section 36A of the SI(S) Act 1993 is guilty of an offence and if convicted is liable to a penalty not exceeding 50 penalty units (currently $5500).

 

If the particulars required to be reported in a statement under section 13 of the SCT(A&C)Act are kept by a superannuation provider by a data processing device, or by a person for or on behalf of a superannuation provider by a data processing device and those particulars are not given in the way specified in this notice, the superannuation provider or the person is guilty of an offence punishable on conviction by a fine of not more than 60 penalty units (currently $6600).
 

A self-assessing superannuation provider who does not give a statement in the way specified in this notice is guilty of an offence under section 15B(5) of the SCT(A&C) Act and if convicted is liable to penalty not exceeding 60 penalty units (currently $6600).

 

 

 

 

(M.J. Carmody)

Commissioner of Taxation

Dated this 24th day of June 2003

Overview

The Superannuation Industry (Supervision) Act 1993 was enacted to regulate and supervise the superannuation industry in Australia, ensuring that funds are managed in the best interests of members. This Act was introduced to address the need for a comprehensive regulatory framework governing the operation of superannuation funds. The enacting body for this legislation was the Australian Parliament, aiming to provide a robust system for the oversight and management of superannuation funds. The Superannuation Contributions Tax (Assessment and Collection) Act 1997 and the Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Act 1997 were introduced to establish a system for the assessment and collection of taxes related to superannuation contributions, ensuring that the tax obligations of superannuation funds and their members are met effectively. The policy objective of these Acts is to maintain the integrity and sustainability of the superannuation system by ensuring proper tax compliance and effective supervision of funds.

Scope and Application

The legislative instrument F2005B02648 outlines the requirements for lodging returns and statements under the Superannuation Industry (Supervision) Act 1993, the Superannuation Contributions Tax (Assessment and Collection) Act 1997, and the Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Act 1997. The Act applies to self-managed superannuation funds and superannuation providers, including those that are self-assessing, and mandates the lodgment of specific returns and statements by these entities. The geographic and jurisdictional reach of this Act is at the Commonwealth level, and it applies across Australia. The Act specifies that self-managed superannuation funds must lodge their returns by the same deadline as their income tax returns, while superannuation providers must lodge their statements by 31 October 2003, or as otherwise allowed by the Commissioner. The Act allows for the use of various electronic methods for lodgment, such as the Corporate External Gateway, Electronic Commerce Interface, Magnetic Information Processing Services, electronic forms, and the Electronic Lodgment Service, all of which must adhere to the specified magnetic media specification. Additionally, imagable paper forms are permitted, but only under certain conditions and with restrictions on the number of forms that can be lodged. Exemptions from the specified lodgment requirements can be granted by the Commissioner. Failure to comply with these lodgment requirements results in penalties, which vary depending on the type of contravention.

Key Provisions

The legislative instrument outlines several key provisions under the Superannuation Industry (Supervision) Act 1993, the Superannuation Contributions Tax (Assessment and Collection) Act 1997, and the Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Act 1997. Firstly, section 36A of the SI(S) Act requires that a self-managed superannuation fund must lodge a return by the same deadline as its income tax return for the relevant financial year. Secondly, superannuation providers are mandated to submit particulars in specific forms, generally by 31 October 2003. These particulars must be provided via data processing devices, with various electronic transmission methods allowed, including the Corporate External Gateway, Electronic Commerce Interface, Magnetic Information Processing Services, and the Electronic Lodgment Service. Superannuation providers may also use imagable paper forms, subject to certain restrictions. The obligations imposed on the parties governed by these Acts include the timely lodgment of required returns and statements. Trustees of self-managed superannuation funds must lodge their returns by the same deadline as their income tax returns. Superannuation providers, and those who keep particulars on their behalf, must provide the required statements by 31 October 2003, using the specified electronic or paper forms. Self-assessing superannuation providers must prepare and transmit statements electronically by their income tax return lodgment date, and pay any assessed surcharges within seven days of doing so. The legislative instrument also details the consequences for non-compliance with these requirements. Trustees who fail to lodge a self-managed superannuation fund return by the required date commit an offence and may be subject to a penalty not exceeding 50 penalty units, currently equivalent to $5500. Similarly, superannuation providers who do not report the required particulars in the specified form, and self-assessing superannuation providers who do not submit statements as required, are guilty of an offence and face a penalty not exceeding 60 penalty units, currently $6600. The Commissioner of Taxation retains the discretion to exempt certain superannuation providers from the requirement to provide particulars in a specific form, if appropriate.

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Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.