Babel Product Update – August 2016
At Bravura Solutions (Bravura), we are making a number of key enhancements to our fully automated SuperStream compliant messaging solution – Babel. We understand that the world doesn’t stand still and that our software needs to respond and adapt to Australian Tax Office (ATO) and industry developments to deliver the functionality our clients need. In addition, our commitment to continuous improvement means we are always looking for ways to do things even better. This update is designed to keep you informed about the changes we are making to Babel to ensure you can continue to optimise your use of this state-of-the-art messaging solution to achieve SuperStream compliance.
In the near term, we are introducing a number of enhancements for the benefit of our Babel clients, which will be made available through two staged releases during 2016.
Stage 1 – August 2016
The Stage 1 release will focus on support for Version 2 of the ATO’s SuperMatch, the Rollover Data Standard Version 2.0 and the expansion of Babel’s gateway certification capabilities.
Babel is being extended to support Version 2 of the ATO’s SuperMatch service. SuperMatch is a non-mandatory enabling service that allows funds to search ATO databases for information about their members for the purpose of account consolidation.
While the ATO had offered SuperMatch Version 1 through a SBR framework, Version 2 will be made available through a SBR2 framework. This new framework essentially employs the same ebMS XBRL technology funds recently adopted for the rollover and contribution messages types. Transitioning SuperMatch to the new SBR2 framework forms part of the ATO’s broader plan to move all data exchanges with the ATO to ebMS XBRL based messaging.
Introduced in November 2015, SuperMatch Version 2 features enhancements such as real-time responses for single member requests and a same day response for batch member requests. Version 2 not only allows funds to search for their members’ super accounts, but also automatically claim their ATO-held super. It also improves the operational efficiency of the service by automatically returning the unique superannuation identifier (USI) of the fund holding the account.
The ATO plans to decommission SuperMatch Version 1 in November 2016.
To ensure our clients have sufficient time to adopt the new framework, Bravura will deliver a new release of Babel that is fully compliant with SuperMatch Version 2 in August 2016. This enhancement represents completely new functionality for Babel, as the solution has not previously supported Version 1 of this non-mandatory service.
Rollover Data Standards Version 2.0
Bravura is making changes to Babel to ensure it supports Version 2.0 of the ATO’s Rollover Message Implementation Guide (MIG), which was released in December 2015.
The Rollover MIG Version 2.0 resolves some issues with the original message types and introduces some new message types to handle data exchange between the ATO and the fund relating to unclaimed supper monies (USM), including USM for temporary residents.
The Rollover MIG Version 2.0 will apply from October 2016.
To assist our clients to meet their regulatory obligations, Bravura will deliver a new release of Babel that fully supports the Rollover MIG Version 2.0 by August 2016.
From the outset of SuperStream, there have been two major gateway providers in the market – Westpac and SuperChoice. Babel is currently certified to operate with the gateway service provided by Westpac.
To better serve our clients, Bravura is currently seeking to expand the gateways that Babel is certified to operate with. Work is underway to certify the solution against the gateway service provided by SuperChoice.
Scheduled for delivery in August 2016, the new release Babel will provide ‘out of the box’ certification for the two major gateway providers in the market.
Stage 2 – November 2016
The Stage 2 release will deliver support for the ATO’s SuperTICK service.
Babel will soon have the capability to support Version 3 of the ATO’s SuperTICK service. This mandatory enabling service allows super funds to validate member Tax File Number (TFN) details when processing rollover requests and new members. Babel currently supports Version 1 of the service.
While the ATO had made SuperTICK Versions 1 and 2 available through a Standard Business Reporting (SBR) framework, it is offering Version 3 – introduced in November 2015 – through a SBR2 framework.
Version 1 and 2 of SuperTICK will continue to operate in parallel with Version 3 until they are decommissioned in December 2016.
Once again, to ensure our clients have sufficient time clients to transition to the new framework, Bravura will deliver a new release Babel that is fully compliant with SuperTICK Version 3 in November 2016.
In addition to adopting ebMS XBRL based messaging, the new release Babel will include the following new features relating to the SuperTICK service:
- the ability to use the service for closed account details
- TFNs will no longer be mandatory
- the inclusion of unique superannuation identifier (USI) for new members.
In the medium term, Bravura will continue to look for ways to enhance Babel for the benefit of our clients during 2017.
Stage 3 – April 2017
Scheduled for the April 2017, the Stage 3 release will provide support for the ATO’s soon to be finalised Contribution Data Standards Version 2.0.
Contribution Data Standards Version 2.0
The ATO has been consulting with industry to refine its Contribution Data Standards Version 2.0 and is anticipated to release the final document later this year.
It is expected that the revised data standards will include minor changes to the original message types and introduce new message types to support government contributions (i.e. contributions received by the fund sent by the ATO).
Once the Contribution Data Standards Version 2.0 is finalised, Bravura will make further changes to Babel to ensure it is fully compliant. The Stage 3 release is scheduled for April 2017.
To learn more about the upcoming releases of Babel or any of the items featured in this newsletter, please contact Bravura Solutions’ Head of Online Services, Mark Thomas, at email@example.com