SuperStream Is Here. Are You Meeting Your Obligations?

10
Sep

The following information has been sourced from the ATO and NSF SUPER for ATA Member’s information.
Nationwide Superannuation Fund (NSF) is a superannuation fund named within
the Horse and Greyhound Training Award 2010. 

SuperStream aims to improve the efficiency of Australia’s superannuation system and provides a new standard for employers when making super contributions. It requires an employer to send contributions electronically in a standard format with linked data and payments.

START DATES
Employers with 20 or more employees
SuperStream contributions start from 1 July 2014 onwards so you should start preparing now. The earlier you begin your implementation, the sooner you will see the benefits and the less chance you will face any compliance issues.
Make sure you contact your service provider to check their start dates and work out the best time to begin.
The ATO will provide flexibility for you on your start date, provided you are doing your best to implement and have a firm plan to do so no later than 30 June 2015.
Small employers with 19 or fewer employees
The SuperStream standard applies from 1 July 2015.
The ATO will provide flexibility for you on your start-up date, provided you do your best to implement after this date and have a firm plan to do so no later than 30 June 2016.
If you are ready earlier, there is no need to wait and you can start at a time that suits you.

Employers SuperStream Checklist
Click here to go to the ATO website and employers Checklist for SuperStream.
NSF advises that with SCH Online your contributions will be compliant with those standards set by the government to meet SuperStream requirements.
The ATA’s Industrial Relations Manager, Wayne Lee, is contactable on (03) 9372 1688 or email ata@austrainers.com.au should Members require further assistance.