4. Application4. Application

4. Application

This instrument applies to every superannuation provider in relation to a superannuation plan (excluding a self managed superannuation fund) and every life insurance company that is required to lodge a Member Account Transaction Service (MATS) form.

The MATS form is the approved form for the giving of a statement to the Commissioner of Taxation (the Commissioner) under section 390-5 and section 390-20 of Schedule 1 to the Taxation Administration Act 1953 (TAA 1953) in relation to a superannuation account transaction for an individual.

The MATS form is required to be lodged to report information relating to the following superannuation account transactions:

1. Employer contributions – no later than 10 business days after the day the contribution amount is allocated to the individual’s superannuation account, or such later date as the Commissioner may allow.
2. Non-employer transactions – no later than 10 business days after the day the transaction amount is allocated to the individual’s superannuation account, or such later date as the Commissioner may allow.
3. Retirement phase events – no later than 10 business days after the day the relevant reporting event occurs, or such later date as the Commissioner may allow.
4. Acknowledgements of valid notices of intent to claim a personal superannuation contribution deduction – no later than 10 business days after the day the notice of intent is acknowledged, or such later date as the Commissioner may allow.
5. Member contribution balance amounts – no later than 31 October following the end of the financial year to which the amount relates, or such later date as the Commissioner may allow.