Update: SuperStream Approaching – Are you Ready? – April 2016
SuperStream, a system of remitting superannuation contributions electronically. The deadline for the implementation of SuperStream was 30 June 2015 for employers with 20 or more employees and 30 June 2016 for employers with 19 or fewer employees.
We have sent information regarding SuperStream in the past, but it’s worth recapping the basic principles. SuperStream requires that employers pay all contributions electronically and in doing so, transfer information about the contributions to the relevant super funds electronically using an “electronic service address”. The data message and payment are linked by a payment reference number which enables the receiving fund to reconcile the payment.
So what do you need to know?