An information session for Superannuation Fund Trustees and Administrators Presented by David Taylor Australian Taxation Office 21 March 2016 Overview Introduction 5 mins Large fund compliance approach 5 ID: 698566
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Slide1
What is a Large Fund Diagnostic Report and how do I use it?
An information session for Superannuation Fund Trustees and Administrators
Presented by
David Taylor, Australian Taxation Office
/ 21 March 2016Slide2
Overview
Introduction 5 mins
Large fund compliance approach 5
ATO risk differentiation framework 10
Overall industry results of diagnostic reports 10Understanding your report 15Questions and answers 15
UNCLASSIFIED – What is a Large Fund Diagnostic Report and how do I use it?
2Slide3
The large fund compliance approach
Continuing our help and assist approach
Tailored engagements based on level of risk
Assisting funds to comply with new reporting and law changes
Focus areas in 2015/16 – conducting reviews, release authorities and TFN reporting
3
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A risk differentiation approach
A strategy and investment model for the ATO
A self-assessment tool for funds
4
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Overall industry results
No higher risk funds (0%)
18 key client funds (7%)
2 medium risk funds (1%)
241 lower risk funds 92%)
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Understanding your report – page 1
6
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Understanding your report – page 2
7
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Fund name and ABN
Categorisation
Relative position in industry
13 indicators with green, amber or red scoreSlide8
Interpreting your report – page 3
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Reference information
ATO statistics
Superstream StatisticsSlide9
Interpreting your fund Report – page 4
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Description of indicators Definition of termsSlide10
For more Information
LargeFundDiagnostic@ato.gov.au
www.ato.gov.au
SPRwebinars@ato.gov.au
/atogovau
@
ato_gov_au
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– What is a Large Fund Diagnostic Report and how do I use it?