Disclosure of superannuation contributions

Treasury has released an exposure draft for the payslip reporting of superannuation contributions.

This measure will amend the Superannuation Industry (Supervision) Act 1993 (the SIS Act) to require employers to report, on payslips, any information prescribed in the regulations about superannuation contributions. The regulations will in turn require employers to report the amount of superannuation contributions, as well as the date on which the employer expects to pay them.

Treasury has also released an exposure draft of a measure which will permit the Australian Taxation Office to disclose details of an individual’s superannuation interests and superannuation benefits to superannuation providers and their administrators to enable funds to assist their members to find and consolidate their superannuation interests.

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