What you need to do
Employers have options for meeting SuperStream – either using a:
- software solution that conforms to SuperStream
- service provider who can arrange SuperStream compliance on your behalf.
Your options may include:
- upgrading your payroll software
- using an outsourced payroll or other service provider
- using a commercial clearing house or, for employers with 19 or fewer employers, using the free Small Business Superannuation Clearing House
- your default fund. They may also have an electronic channel they manage or can make transitional arrangements for you.
You will need to collect and store additional information about funds in order to send them contributions in accordance with the SuperStream standard.
When you need to do
From 1 July 2014, employers with 20 or more employees will see this simplified when they begin to make contributions using SuperStream. They have up to 12 months to make the change.
From 1 July 2015, small employers (with 19 or fewer employees) will start making contributions using SuperStream and will have up to 12 months to make the change.
Watch
This video explains SuperStream for employers. It features some businesses sharing their current circumstances and options they are considering to meet their obligations.
View the SuperStream video.