There are over 800,000 Australian employers who are required to make super guarantee contributions on behalf of their employees.
For many, this can be a complex process with multiple funds to contribute to – each with their own specifications for accepting the contributions data and payments.
From 1 July 2014, employers with 20 or more employees will see this simplified when they begin to make contributions using SuperStream. They have up to 12 months to make the change.
From 1 July 2015, small employers (with 19 or fewer employees) will start making contributions using SuperStream and will have up to 12 months to make the change.