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SuperStream – Ensuring you are Compliant

May Partners

April 27, 2016

Superannuation, Compliance

You may have already received some information from the ATO regarding the need to become SuperStream Compliant. SuperStream is relevant to any employer that is required to pay superannuation for employees. Even if you only have one employee that you pay super for. The only exempt employers are basically those that only employ related persons who only contribute to a Self-Managed Superannuation Fund.

For those of you who have not yet become SuperStream compliant, please find below some tips on getting started.

If you have 19 or fewer employees: You have until 30 June 2016 to meet the SuperStream requirements when paying superannuation contributions on behalf of your employees

What do you do?

1)    Register with a Superannuation Clearing House

(i) There are many Clearing Houses to choose from.  A simple google search of ‘Clearing House SuperStream’ will bring up many to choose from.  Most payroll programmes will have a recommended clearing house as will any of your default super funds.

The ATO offer a service called ‘Small Business Superannuation Clearing House’ for employers with 19 or fewer employees AND your turnover is less than $2mil.

(ii) The ATO clearing house is very simple to setup and easy to use – Simply go to the below link

Note: You will need the following information at your fingertips in order to complete your registration

  • ABN
  • Your Employer Bank Details
  • All Employee details including full names, DOB, Addresses and most importantly employee superannuation details

2) Make a Super Payment for your Employees

Once you are registered and all of your employee details are logged you will use this website to submit all superannuation details.  

  • www.sbsch.gov.au
  • Enter your User ID and Password  (as created during your registration)
  • To make a Payment go to ‘Payments’ then ‘Instructions’ and enter the relevant dates and follow the prompts.
  • Once your payment instructions are loaded you will receive a Bpay notice on screen giving you instructions to make the payment. You will be able to make this payment using either Bpay or by bank transfer.

If you have 20 or more employees or have turnover of more than $2mil

  • You are unable to use the abovementioned ATO Clearing House.
  • You can choose from many clearing houses and a google search will bring up many to choose from.
  • One option to consider is using ClickSuper.
  • Go to www.clicksuper.com.au
  • Click on Apply Now and follow the prompts.

Please review the below points

  1. We recommend you review the ATO website for more information and in particular the ATOs Frequently Asked Questions.
  2. Please note that if you have 20 or more employees you should already have become super stream compliant and if you have not made the transition as yet, please feel free to contact us if you need help.  Your deadline was 31st October 2015.
  3. If you have an employee with a self-managed super fund you will need the employee to provide you with their ESA (Electronic Service Address.

Please contact us if you have any queries or need assistance. 

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