SuperStream

SuperStream is a Government program to improve back-office super fund efficiency by creating an electronic standard for reporting and paying employer superannuation contributions.

SMSFs should consider digital capability ahead of SuperStream changes

The ATO is encouraging SMSF trustees and professionals to consider how ready they are to transact digitally, in light of the plan to extend SuperStream for rollovers to SMSFs. ATO Assistant Commissioner for Superannuation Dana Fleming told the SMSF Association Technical Day in Brisbane that extending SuperStream rollovers to SMSFs was… Read More »SMSFs should consider digital capability ahead of SuperStream changes

SuperStream is delivering $3.2 billion a year in savings to members, funds, employers

SuperStream, the system for electronic transfer of superannuation contributions information, is delivering an estimated $3.2 billion a year in savings, according to the ATO. The ATO says that 95% of superannuation payments are now digital, enabling faster rollovers and easier consolidation, leading to a “sustained” drop in the number of… Read More »SuperStream is delivering $3.2 billion a year in savings to members, funds, employers

Under 100 days till SuperStream deadline for small businesses

Update: the ATO has announced ‘compliance flexibility’ for small businesses which miss the SuperStream deadline. The ATO has warned that small businesses have less than 100 days to get ready for SuperStream. SuperStream is a new electronic data standard for passing information about superannuation contributions between employers and super funds.… Read More »Under 100 days till SuperStream deadline for small businesses

SuperStream accounts for over 70% of APRA fund contributions

The number of superannuation members benefiting from SuperStream continues to grow, according to the ATO. SuperStream is a new system to electronically transfer information about super contributions between employers and super funds. The ATO says that over 70% of members’ superannuation contributions to APRA-regulated super funds are now being sent using… Read More »SuperStream accounts for over 70% of APRA fund contributions