The ATO reminds trustees of superannuation funds that, from 1 July 2014:
- employers with 20 or more employees will start using the SuperStream standard to send contribution data and payments electronically
- all super funds (including SMSFs) must receive any employer contributions sent to their fund in accordance with the SuperStream standard.
From 1 July 2015, employers with 19 or fewer employees will also be required to send contributions data and payment electronically. However, some may choose to implement SuperStream sooner.
For more information go here.