Introduction
We've put together this detailed checklist to help you prepare for SuperStream Rollovers and Release Authorities (RA) that became compulsory from 1 October 2021.
Prerequisite (Tax Agent Setup)
| 1. |
Ensure the Tax Agent authorised to the SMSF is linked at the Fund Level under Fund > Fund Contacts > Fund Relationships |
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| 2. |
Check the below credentials for the Tax Agent:
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| 3. |
If there are Individual Tax Agents set up as nominees for the main Organisation Tax Agent and linked to the fund, ensure the same ABN, Tax Agent Number, and CAA Software ID information are copied from the Organisation Tax Agent to the Individual Tax Agent. |
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| 4. |
Please contact support@class.com.au to change the Individual Tax Agent CAA Software ID, if it is not the same as the Organisation that they are representing. |
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| 5. |
You can confirm the Tax Agent set up by clicking Periodic Process > Browse Activity Statement > Get List from ATO at Fund scope. |
Checklist
| 1. |
Ensure the SMSF has a valid Australian Business Number (ABN). Check Fund Details > ABN against the ABN Lookup site. |
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| 2. |
Make sure the SMSF has a Complying or Registered status. Check the status of the fund via Superfund look up and type in the ABN of the SMSF. |
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| 3. |
Ensure the details of the SMSF in Class are accurate, up-to-date and match the details recorded with the ATO including:
If the above details need to be updated, refer to Changes to your SMSF to notify the ATO. If you are the Registered Tax Agent for the SMSF, you can update the SMSF details via Online Services for Tax Agent. Associate details can be updated via Australian Business Register. |
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| 4. |
Make sure the SMSF in Class uses smsfdataflow as the default ESA. While it is not compulsory to use smsfdataflow as your preferred ESA message provider, if you want to take advantage of the automation built-in to Class for the new Rollover / RA process via SuperStream, you must use smsfdataflow as the ESA. Refer to step 3 to update your ESA details. |