NC 2018 Recording – Concurrent 3C – The superannuation reporing framework for SMSF’s

View this recording from the SMSF Association National Conference 2018 session presented by Kasey Macfarlane, Assistant Commissioner, SMSF Segment, Superannuation, Australian Taxation Office, Michael Houlihan, Director, Australian Money Planners and Facilitator: Peter Hogan, Head of Education and Technical, SMSF Association

This session recording will explore the legislative background and the detail in the new ATO reporting regime and how this will work in practice; including how it might change the regulator’s approach to managing compliance and the provision of ATO online services for practitioners, superannuation fund trustees and superannuation fund members.

The session recording will also investigate how APRA Funds have managed the significant reporting requirements and what impact it has had on how APRA Funds are administered and the outcomes for their members; and relevantly what opportunities might technology, automation and the broader superannuation reporting infrastructure provide for the SMSF sector into the future.

As a result of viewing this session recording, you should be able to:

• Understand why visibility of member account information and balances is more important than ever in the post superannuation reform environment.
• What are the new online services that ATO is providing in the post superannuation reform environment to assist people in making informed financial decisions in relation to their retirement savings and how does this interact with SMSF events based reporting?
• What opportunities might there be for SMSFs in the future to streamline and automate transactions, administration and reporting and what might the benefits be for SMSF trustees, SMSF members and their advisers? How might this impact the ATO’s approach to managing compliance?
• What can we learn from the experiences of others in the superannuation system and financial sectors through the implementation of SuperStream, the current implementation of other initiatives such as Member Account Attributes Services (MAAS) and the Member Account Transaction Services (MATs) and the upcoming implementation of single touch payroll?