Are you ready for SuperStream?
For employers with 20 or more employees, SuperStream has already started and you have until 30 June 2015 to be ready. For employers with 19 or fewer employees, SuperStream starts from 1 July 2015 and you have until 30 June 2016 to be ready.
If you employ 19 or fewer employees, you should start getting ready now if possible, and begin using SuperStream prior to 30 June 2016 so you have the new process bedded down before the mandatory date.
Employers that do not already have plans in place to implement SuperStream are advised to contact their payroll provider, super fund or clearing house to obtain information about different SuperStream solutions.
For self-managed super funds
All SMSF trustees must be able to receive super contribution payments and information electronically when their employer starts sending contributions using SuperStream. To be able to do this, each SMSF member will need to provide their SMSF’s SuperStream details to their employer – that is, the SMSF Australian Business Number (ABN), bank account and electronic service address (ESA).
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