27 May 14 More flexibility for superannuation funds in receiving contributions
On 26 May 2014 the Acting Assistant Treasurer announced increased flexibility for the superannuation industry as it continues to make the necessary changes to implement the SuperStream contributions data standards: Acting Assistant Treasurer’s media release, 26 May 2014.
Superannuation funds will have up to 1 July 2015 to meet the new standards.
SuperStream introduces e-commerce to the back office functions of the superannuation industry, reducing transaction costs and processing times.
The ATO will provide more information to industry through their regular consultative forums.