SuperStream is a standard for processing superannuation data payments electronically. It must be used by:
- Self-managed super funds
- APRA-regulated funds
You must be SuperStream compliant by July 1st 2016. This means the super payable for the April to June period will be the first quarter you will use a clearing house method to pay super.
What this means is that employers can pay contributions in one easy and single transaction, even if the payments are being made to multiple super funds. SuperStream data is in a standard format so it can easily transmit consistently between employers, funds, service providers and the ATO.
If you are not SuperStream ready, call First Class Accounts Maroochy Central on 07 5370 8126 to help you get started.