macro news

SuperStream update

SuperStream is the easy way to pay super. It's an electronic and standardised solution that streamlines the super payment process.

Larger employers (20 or more employees) need to be SuperStream compliant already, however small employers (19 or fewer employees) who missed the 30 June 2016 deadline have until 28th October before the ATO may take compliance action.

You can use the Superstream_Decision_tree.pdf attached to choose the right solution for you.

To use SuperStream, you need to pay super and send employee information electronically. If you're already doing this, you may only need to refine your system to send the contribution data in the standard format. Employers can meet SuperStream requirements by using a payroll system that meets the SuperStream standard, or your superfund's online system; a super clearing house or a messaging portal.

If the only contributions you make are personal contributions for yourself, or contributions to a related self-managed super fund (SMSF), you don't need to use SuperStream because these are exempt contributions.

We can provide further assistance or information to ensure you are compliant with SuperStream. Please contact the office if you require our assistance.

Kind Regards
Nicole and The Macro Group Team

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