Australia Post’s ESA service for rollovers now live
Australia Post is now listed as an electronic service address provider for SuperStream rollover services.
Based on an update this week on the ATO’s website, the SMSF messaging service provided by Australia Post now also covers SuperStream rollovers.
In order to comply with the latest SuperStream rules in place since 1 October last year, SMSF trustees are required to obtain an electronic service address (ESA) from an SMSF messaging provider that offers SuperStream rollover services.
Up until this week, only the three major SMSF administration and compliance platform providers and one other non-admin platform provider offered this service.
The ATO’s register of SMSF messaging providers that provide an ESA for rollovers and release authorities has now been updated to include Australia Post, giving SMSFs that are not on one of the major administration platforms another option for these services. Australia Post’s status was previously listed as “in progress”.
DBA Lawyers director Daniel Butler previously noted that the lack of ESA messaging providers that could provide SuperStream rollover services had created a very difficult situation for many SMSFs with “pressing needs to complete SMSF to SMSF rollovers”.
The ATO also announced temporary relief in March to address the difficulties that some SMSF trustees have encountered in obtaining an ESA from an SMSF messaging provider.
SMSF trustees without an SMSF messaging provider that provides rollover services can contact the ATO to make a request to perform the rollover outside of the SuperStream system.
Miranda Brownlee
Miranda Brownlee is the deputy editor of SMSF Adviser, which is the leading source of news, strategy and educational content for professionals working in the SMSF sector.
Since joining the team in 2014, Miranda has been responsible for breaking some of the biggest superannuation stories in Australia, and has reported extensively on technical strategy and legislative updates.
Miranda also has broad business and financial services reporting experience, having written for titles including Investor Daily, ifa and Accountants Daily.
