Published on 11th May 2016
Small employers (19 or fewer employees) must meet the SuperStream standard by 30 June 2016.
What is SuperStream?
SuperStream is a Government reform aimed at improving the efficiency of the superannuation system.
Under SuperStream, employers must take super contributions on behalf of their employees by submitting payments electronically in a consistent and simplified manner.
Why do I need to be SuperStream compliant?
SuperStream is mandatory for all employers making super contributions, and all APRA-regulated super funds and self-managed super funds (SMSFs) receiving contributions.
If you’re not compliant, you could be penalised by the ATO.