SuperStream

Free employer SuperStream webinars from the Tax Office

Employers with 19 or fewer members of staff have still got until June 30, 2016 before they need to comply with the new SuperStream standard for superannuation payments.

Under SuperStream, you need to pay super contributions for your employees electronically and also send the associated data electronically. See these articles for more information:

To help employers, the Tax Office is hosting free webinars (details below), which are designed to help employers understand SuperStream and the steps necessary to prepare. It advises employers to register soon as places are limited.

The new system requires a standard format so it can be transmitted consistently across the super system – between employers, funds, service providers and the Tax Office. The data is linked to the payment by a unique payment reference number.

The Tax Office says this will mean:

  • employers can make all their contributions in a single transaction, even if they’re going to multiple super funds
  • contributions and rollovers can be processed faster, more efficiently and with fewer errors
  • people can be more reliably linked to their super, reducing lost accounts and unclaimed monies.

SuperStream for employers webinars:

  1. Tuesday 8 March 2016 4:00pm
    Register for this webinar here
  2. Wednesday 13 April 2016 3:00pm
    Register for this webinar here
  3. Thursday 12 May 2016 10:00am
    Register for this webinar here
  4. Wednesday 1 June 2016 4:00pm
    Register for this webinar here

The Tax Office has also updated its Employer checklist: a step-by-step guide to preparing for SuperStream to make it easier for employers to see what they need to do and choose a solution that best suits them.