Buyers Advocates Melbourne -Newspaper

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Transcript of Buyers Advocates Melbourne -Newspaper

Page 1: Buyers Advocates Melbourne -Newspaper

ATO encourages employers to prepare for SuperStream The ATO is encouraging employers to prepare for the introduction of 'Super Stream' which

will change the way they make superannuation contributions in the future.

Super Stream introduces a new standard for all employers which involves making super

contributions electronically with linked data and payments. All super contributions are

treated in the same way – whether sent to a default or choice fund, an APRA fund or self-

managed superannuation fund (SMSF).

“The main benefit for employers is that Super Stream will simplify the employer experience

and reduce costs by eliminating unnecessary variation and complexity that has crept into the

system over recent years,” Philip Hind ATO’s National Program Manager, Data Standards &

E-Commerce (Super Stream), said.