Super Stream

Super Stream – SMSF’s Beware!

If you are an accountant with SMSF clients or a SMSF member yourself, you should sit up and listen. Super Stream may impact on your SMSF(s) from 1 July 2014.

You can be excused if you have not heard of Super Stream. This is one of the projects that eminated from the 2010 Cooper Review, it’s purpose being primarily to improve the efficiency of large superannuation funds by legislating, amongst other things, that employers had to pay and report employer contributions electronically.

The new rules apply to employers but obviously impact directly on superannuation funds. Employers with 20 or more employees have to comply with the new rules from 1 July 2014 (although they have been given a 12 month grace period).

Smaller employers need to comply with the rules from 1 July 2015.

So how does this impact on you? 

Read Full Article (PDF)

Comments are closed.