Superstream

SuperStream is the Government’s prescription for making super contributions electronically in a standard format, with linked data and payments.  This applies to all employers making super contributions.

20 plus employees

Employers needed to be SuperStream compliant by 30 June 2015.

The Australian Taxation Office has indicated employers will not be penalised as long as they have a plan in place to finalise implementation of SuperStream by 31 October 2015.

19 and less employees

SuperStream started from 1 July 2015, but you have until 30 June 2016 to meet the SuperStream requirements.

Employers and super funds (including SMSF) need to be communicating to implement this electronic exchange.  Once established, it is quite simple to transaction.