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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.

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