The ATO has recently introduced a new "simplified" system called Superstream that makes employers with more than 20 employees report their super contributions on behalf of employees by submitting data electronically to their Super Funds.
All superannuation funds, including SMSFs, must receive contribution details electronically in accordance with this standard.
What do I need to do to meet my SuperStream obligations?
You will need to provide your employer with the following information by 31 May 2014.
- - Super fund name
- - ABN
- - The Electronic Service Address (ESA)
- - The super fund's Bank BSB and Account Number
If you do not provide these details to your employer, we will not be able to load SuperStream data into your SMSF.