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SuperStream for SMSFs

Posted on Jul 20, 2017 by admin

The SuperStream standard applies to self-managed super funds (SMSFs) that receive employer contributions and the associated data electronically.

SuperStream is more timely and has a reliable flow of payments and information about contributions, resulting in fewer data and payment errors. Additionally, the electronic record helps to support your accounting and tax obligations (including your SMSF annual return).

To use SuperStream, SMSF members must obtain an electronic service address to receive contribution data and inform employers of your SMSF’s ABN, bank account details and electronic service address.

If your SMSF does not receive any employer contributions or the only employer contributions are from a related-party employer, then your SMSF does not need to use SuperStream. SuperStream does not apply to personal contributions made by members and rollovers to or from an SMSF.

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