SMSF members will have greater visibility of superannuation transactions, with the ATO adding features to ATO online via MyGov.
“Greater visibility of super will help Australians have more control over their retirement savings, including the ability to identify if their super is not being paid,” said the ATO.
SMSF members will be able to see employer contributions made to an SMSF, on the Fund Transactions screen. These will be shown as ‘Employer Contributions’, not ‘Super Guarantee’, ‘Voluntary Award’ or ‘Salary Sacrifice’ as the ATO says SMSFs don’t need to report that level of detail.
While the new features provide more information to SMSF trustees, they don’t extend to SMSF professionals.
SMSF members can access a range of other superannuation information through ATO Online (via MyGov), including Transfer Balance Cap details, non-concessional contribution cap bring forward arrangement information, employer’s Super Guarantee obligations on their income statement and employer contributions reported by their super fund.
New version of eSAT to be available 1 July
The ATO says that a new version – version 12 – of the Electronic Superannuation Audit Tool (eSAT) will be available from 1 July.
The new version will be available for Windows and Apple operating systems, but not Linux.
“The Linux version will not be available for download after 1 July as Linux no longer supports the Java runtime environment eSAT requires,” says the ATO.