There are three options for you to ensure you are SuperStream compliant for making your employees’ contributions.
In the past, paying your employees’ super took a lot of time. You had to make different payments to different funds. All businesses should now be SuperStream compliant, according to the ATO. This means you can make all your contributions in a single transaction, even if they are going to multiple super funds.
SuperStream is an easy way to pay super according to the ATO. It saves you time and effort.
- You only need to use one online channel to pay contributions.
- A format for payment and data has been standardized so there’s less room for error when entering data.
- Your transactions will reach super funds faster.
Option 1: If you’re a small business with 19 or less employees, or have an annual aggregated turnover of less than $10 million, we recommend that you use the ATO’s Small Business Clearing House which is a free service. For more information please contact the ATO on 1300 660 048 or alternatively visit their website.
Option 2: If you’re a default employer needing to make compliant contributions to multiple funds, we offer SuperChoice, our clearing house solution.
SuperChoice will distribute contributions in a SuperStream compliant format to Australian Catholic Superannuation funds or different choice funds. If you wish to use this service, please contact us on 1300 658 776.
Option 3: If you’re a non-default employer, get in touch with your default super fund for their SuperStream solution.
Need more information about making compliant contributions?
If you’d like more information or feel uncertain about how to make compliant contributions, we’re here for you.
Just give us a call on 1300 658 776 and we’ll talk you through the entire process.