An employer's guide to SuperStream
Everything you need to know about SuperStream and how it applies to your business.
SuperStream is a series of changes to the way superannuation payments are made and data is provided by employers to super funds.
Who does SuperStream apply to?
SuperStream is mandatory for all employers making super contributions, APRA-regulated super funds, and self-managed superannuation funds (SMSFs) receiving contributions.
When do I have to start using SuperStream?
- 20 or more employees: If you have 20 or more employees (medium to large employer) SuperStream commenced from 1 July 2014. From that date, employers needed to start implementing SuperStream and had until 31 October to meet the SuperStream requirements when sending superannuation contributions on behalf of employees.
There are a range of solutions employers can use to become compliant and if you need help in deciding upon the most appropriate for your business you can contact one of our friendly Account Consultants on 1800 VSUPER (1300 878 737)
- 19 or fewer employees: If you have 19 or fewer employees you are considered by the ATO to be a small employer and you had until 28 October 2016 to be SuperStream compliant.
Note: You can voluntarily adopt SuperStream from 1 July 2014 if you are ready, otherwise please be aware of the above end dates dependent by the amount of employees you have.
What has changed?
Your obligations include:
- Submit data and contribution payments on the same day
- Make all contribution payments electronically
- Data must include the mandatory fields as per the data standards
How VicSuper is helping
We've introduced VicSuper Clearing House - an online solution that allows you to submit contributions for all of your employees at once, regardless of their fund.
- No cost
- Secure and compliant
- Easy to use.
Speak to your friendly account consultant on 1300 878 737 (1300 VSUPER)