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.

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

ATO SuperStream compliance extension for large employers

SuperStream, large employers, extension, "compliance flexibility", ATO, APRAThe ATO has announced four months of “compliance flexibility” for large and medium employers getting ready for SuperStream.

Large and medium employers are scheduled to be fully SuperStream compliant from 30 June 2015. However Philip Hind, ATO’s National Program Manager for Data Standards & E-Commerce (SuperStream), has said the ATO will “extend its compliance flexibility to employers who are not yet SuperStream-ready by four months until 31 October 2015.”

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Time running out for SMSFs to get SuperStream ready

SuperStream

Time is running out for SMSF to get ready for SuperStream, if they haven’t already. From 1 July 2015 all businesses should be using SuperStream, the new electronic system for transferring data about superannuation contributions.

Large employers started using SuperStream from 1 July 2014, and should fully comply with the data transfer standard by 1 July 2015. This is also the date for small employers to start using SuperStream, they have until 1 July 2016 to complete their implementation.

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