Get superstream ready
Processing everyday superannuation transactions will become easier for employers, thanks to SuperStream.
SuperStream is an ATO’s initiative aimed at providing a safe, secure and more reliable way of processing everyday transactions, such as employee data and payments to super funds via an electronic payment and standardised data system.
Under SuperStream, employers will be able to use one central hub for dealing with super funds – irrespective of how many super funds employees contribute to.
The streamlined service may mean less time spent dealing with employee data and fund queries, reduced cost of processing contributions and payments through greater automation; and more timely flow of information and money in meeting super obligations.
Employers should be getting SuperStream ready now. Employers with less than 20 employees have until 30 June 2016, while those employers with 20 or more employees should already be using the new data standard for paying contributions. Further information about SuperStream can be found on the Australian Taxation Office (ATO)’s website.
The ATO has designed free webinars to help employers understand SuperStream. Register today as places are limited.
Being SuperStream compliant is easy with First Super’s Clearing House. Here’s what you need to know about our Clearing House and why it makes super contributions easier for your business.
It’s fast and easy to use
Our Clearing House is fully compliant with the ATO’s SuperStream standards and is suitable for all types of businesses. Employers can be confident their business and employees’ private information remains secure.
There’s no need for new payroll software
The First Super Clearing House offers a simple solution. By allowing employers to upload contribution data directly from their payroll system or via Excel, super payments can be sent quickly and easily. It’s available to use anytime, anywhere with internet access.