How SuperStream will affect you

SuperStream is a package of Australian Government reforms, designed to make Australians superannuation system easier to use. As an employer, it’ll help you simplify the way you make contributions for your employees, and streamline your data processing requirements.

The changes are the result of the Superannuation Data and Payment Standards 2012 ('The Standards'), which have been jointly created by the Australian Government and Australian Tax Office (ATO).

What this means for you

You’ll need to send your prescribed data electronically in a standard message format. A unique payment reference number will link all superannuation contribution payments to the data.

If you have 20 or more employees, from July 1 2014 you can begin the transition to comply with The Standards (as per the transition arrangements of the fund). By 30 June 2016, you must be compliant.

Employers with 19 or fewer employees should be SuperStream ready by 30 June 2016. However, the ATO will provide compliance flexibility to small businesses that are not yet SuperStream ready until 28 October 2016.

This means the ATO will not be taking compliance action against small businesses that missed the 30 June deadline.

What is Pass Through Legislation?

Pass-through legislation refers to the sending of contribution data to superannuation funds. With Pass-through your default fund must forward to any of your choice funds the contributions data you’ve provided.  This is so you can deliver all your contributions data through a single point of entry and make payments directly through to each of the funds.

QSuper has a pass through service available so if you would like to understand more about this option please contact us.

Note: under this arrangement the employer will be responsible for paying all monies to each fund. A clearing house facility allows you to forward one data file and make one payment for all your superannuation contributions.

What you need to do

It’s a good idea to familiarise yourself with your responsibilities as an employer so you can comply with this legislation within the ATO’s timeframes. You might also need to liaise with your payroll and technology areas so they can get ready for compliance with the Standards.

Partnering with QSuper

Our Employer Direct service can help you make the necessary changes so you’re fully compliant with the legislation. This service also helps with the unique superannuation rules and requirements that apply to Queensland Government employers.

Employer Direct will be ready to support the transition for our employers in line with ATO expectations. It’ll provide you with:

  • a portal to upload and validate the contribution data
  • payment processes that automatically generate a reference number to link payment and data
  • clearing house capability to support choice fund arrangements
  • checking and translation of the contribution data into the standard and compliant format
  • electronic transmission of the data to both default and choice superannuation funds.

The QSuper Contribution File Specification outlines the specification data and format needed for our tailored solution. It specifically caters for:

  • Defined Benefit accounts
  • contributory accumulation accounts
  • negative contribution.

If you’re not using Employer Direct

If you won’t be using our portal and your existing arrangement with us allows negative contributions to be submitted, please read the QSuper Specification for Negative Contributions for Adjustments

It provides important guidance to gateways and payroll providers (who’ve entered into an arrangement with Queensland Government Employers), on how to continue submitting negative contributions in keeping with The Standard.

Important documents to read

If you are not proceeding with QSuper’s Employer Direct solution, please read:

Training

If you will be making contributions through Employer Direct, QSuper has a range of resources available including videos, for your transition and ongoing use of the system.

Support

For more details contact your Relationship Manager or email superstream.contributions@qsuper.qld.gov.au.

How SuperStream will affect you

SuperStream is a package of Australian Government reforms, designed to make Australians superannuation system easier to use. As an employer, it’ll help you simplify the way you make contributions for your employees, and streamline your data processing requirements.

The changes are the result of the Superannuation Data and Payment Standards 2012 ('The Standards'), which have been jointly created by the Australian Government and Australian Tax Office (ATO).

What this means for you

You’ll need to send your prescribed data electronically in a standard message format. A unique payment reference number will link all superannuation contribution payments to the data.

If you have 20 or more employees, from July 1 2014 you can begin the transition to comply with The Standards (as per the transition arrangements of the fund). By 30 June 2016, you must be compliant.

Employers with 19 or fewer employees should be SuperStream ready by 30 June 2016. However, the ATO will provide compliance flexibility to small businesses that are not yet SuperStream ready until 28 October 2016.

This means the ATO will not be taking compliance action against small businesses that missed the 30 June deadline.

What is Pass Through Legislation?

Pass-through legislation refers to the sending of contribution data to superannuation funds. With Pass-through your default fund must forward to any of your choice funds the contributions data you’ve provided. This is so you can deliver all your contributions data through a single point of entry and make payments directly through to each of the funds.

QSuper has a pass through service available so if you would like to understand more about this option please contact us.

Note: under this arrangement the employer will be responsible for paying all monies to each fund. A clearing house facility allows you to forward one data file and make one payment for all your superannuation contributions.

What you need to do

It’s a good idea to work with your payroll and IT areas so they can get ready for compliance with The Standards. Here are some solutions that may be appropriate: 

  • upgrading payroll software
  • engaging a service provider (a payroll bureau, tax agent or book-keeper for example) through a clearing-house
  • working with your organisation's default super fund, which may have an online solution.

You should talk with your default superannuation fund to understand the work they have underway to meet the legislated deadlines. The new data and payment standards could significantly change the format, amount of data, and payment methods you currently use.

How we can help

It’s your responsibility to make sure you’ve got the correct systems in place to comply with The Standards by the specified deadline, but we’re here to help where we can.

We're working hand in hand with the ATO to determine transitional timeframes, arrangements and details for the new standards, and how they’ll affect you.

As we get further information, we’ll let you know. The ATO will also send you information directly about your SuperStream obligations.