Project update
The Better Targeted Superannuation Concessions legislation was not debated in the Senate in November 2024. The next opportunity for it to be debated is in February 2025.
Reporting Division 296 information
The Australian Taxation Office (ATO) and members continued to work through the fund reporting requirements, including:
- refining the information that needs to the reported to the ATO by funds
- how the Division 296 request for information (RFI) process will apply to funds involved in a successor fund transfer or intra-fund transfer
- amendment of Division 296 information that is provided through the RFI process.
Division 296 deferred debt process
The ATO and members discussed the deferred debt process for Division 296 deferred debts. The ATO will continue to work with members on this process.