Your free, open and portable SuperStream solution
SuperStream is now up and running and from 3 November 2014, SMSFs needed to be ready to receive employer super contributions using the Government's SuperStream Data and Payment Standard.
This ensures members will continue to receive their employer contributions as they do today. SMSF DataFlow has you covered and will have both accountants and trustees SuperStream ready in no time.
What is SuperStream?
The SuperStream Data and Payment Standard is part of the Government's Stronger Super initiative and introduces a streamlined method of sending superannuation payments and associated information electronically. To comply, every SMSF that received employer contributions will need an electronic service address (ESA) and the software to receive their SuperStream data. Trustees will need to provide this address to their employer in order to receive their contributions.
To solve this issue, Class and GBST have teamed up to provide SMSF DataFlow – a free, open and portable online service for the SMSF industry. The solution works for all accountants and all trustees for as long as required – it doesn’t matter what software an accountant uses or what bank account an SMSF chooses.
What are the key dates?
SuperStream is being rolled out in a phased approach. Contributions from the first induction group, which Class and SMSF DataFlow were part of, were processed in August 2014.
The key dates that SMSFs and employers now need to be aware of are as follows:
- SMSFs needed to be ready to receive employer contributions in the SuperStream format by 3 November 2014.
- From 1 July 2014, employers with 20+ employees have been making contributions using SuperStream. These employers were required to comply by 31 October 2015.
- The deadline for small employers, with 19 or less employees, is 30 June 2016, however the ATO has provided compliance flexibility until 28 October 2016.
How does SMSF DataFlow work?
Through SMSF DataFlow, accountants and administrators can register their SMSF clients in bulk and access the contribution data needed. Trustees can also register directly online and achieve compliance quickly and easily. And as SMSF DataFlow is a cloud solution, you can register and access data securely from any device, anywhere, anytime.
Find out more about SuperStream for SMSFs from the Australian Taxation Office here.
Trustees - register your SMSF - FREE
If you don’t have an ESA, your SMSF may not be able receive your employer contributions.
It takes one click to register with SMSF DataFlow and keep your contributions rolling in. Click to comply, free of charge, and we’ll do the rest.
Register as a Trustee
Register as an Accountant - FREE
Register your SMSF clients here to ensure they can comply and you have access to all the contribution data you need.
Register as an Accountant
The SMSF DataFlow application (Application) is operated by Class Super Pty Ltd (Class) on behalf of its clients and partners. Our commitment to protecting your privacy is paramount. Our policy applies to this application and governs data collection and usage. By using this application, you consent to the data practices described in this statement.