Revision of Member contributions statement (MCS) specification v9.0.0 from Mon, 2013-12-16 13:34

Version: 

v9.0.0

Original Published Date: 

12/12/2013 - 03:45pm

Status: 

  • Current

Tax Category: 

  • Superannuation

Resource Type: 

  • Specifications

Description: 

This FINAL specification is to be used in the development of software for the electronic lodgment of the MCS. From 1 July 2013 only version 9.0.0 will be accepted for lodgment of all MCS files including amendments for prior years.

You should have commenced development already from the 'final draft' issued on 25 January 2013. The only significant changes between this FINAL version and the final draft are to:

* correct the Member Data Record data table in relation to the Insurance Indicator. The only possible values are Y and N, as the field definitions already indicated at 6.95.

* clarify special requirements for constitutionally protected funds for Employer Contributed Amounts at 6.106.

Development of Software for Defined Benefit Funds
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Amendments to the income tax legislation and regulations relevant to calculating the reduction of higher tax concessions of very high income earners have not yet been enacted. The impact for the MCS is the field 'Notional Employer Contributions' which is completed only for members with a defined benefit interest (for other members the field will be always be zero-filled).

Once requirements for the calculation of this amount have been made law, instructions will be published and announced using a bulletin to be issued by the Software Industry Liaison Unit. These instructions will supplement the electronic reporting specification but a new version of the specification will not be issued.

If the relevant provisions have not been enacted by 30 June 2013, the supplementary instructions will specify that all superannuation providers will need to zero-fill this field for all members.

Enquiries regarding this FINAL specification, including questions about the supplementary instructions for defined benefit funds, should be directed to the Software Industry Liaison Unit at SILU@ato.gov.au.

Resource Attachments:
AttachmentAdd to Cart
View this file Member Contribution Statement final bulletin Add
View this file Member Contribution Statement (MCS) electronic reporting specification clean v9.0.0 Add
View this file Member Contribution Statement (MCS) electronic reporting specification tracked v9.0.0 Add