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ATO announces new information features for contributions
The ATO has enhanced some of the information features on online services to make it easier for members to manage their contribution caps.
In an online update, the ATO said that members can now view and manage their non-concessional contributions using ATO online services, which they can access through their MyGov account.
Members are able to see their remaining cap for the financial year and whether they are close to exceeding their cap.
If a member has exceeded their cap, online services will show how much they have exceeded the cap by with clear labels and coloured indicators.
The ATO has also added new help content to assist members understand and navigate the new feature.
The concessional contributions and unused concessional contribution information display has also been enhanced.
"The latest enhancements include coloured indicators and clear labels such as ‘eligible’ or ‘not eligible’, so members can easily view and manage their information,” the Tax Office said.
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.
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