If you employ people, it is now compulsory to use SuperStream to pay super contributions to your employees.
What is SuperStream?
SuperStream is the new data standard you need to use to pay super contributions for your employees electronically. Under the new data standard, both payments and employee information are sent electronically.
What do you need to do?
Under SuperStream, you will need to have an electronic system to pay your employees’ super contributions.
To do this, you can use:
- a payroll system that meets the SuperStream standard
- your super fund's online system
- a super clearing house
- a messaging portal.
If you’re already using one of these systems for your super contributions, you might only need to make a few refinements for SuperStream.
If you aren’t able to set up an electronic system, you can also ask your accountant or bookkeeper to help you by either setting up a system for you or by making the super contributions on your behalf.
When do you need to have SuperStream in place?
SuperStream standards should be used from 1 July 2016. However if you need extra time and help to be SuperStream ready, you’ll have until 28 October 2016 before compliance action may be taken against you.
Find out more…
More information on SuperStream is available from the Australian Taxation Office (ATO) website: