SuperStream is a system designed by the ATO that streamlines the processing of superannuation electronically. This means that both payment and sending of remittance data needs to be processed through electronic means, via an approved process under Superstream standards. Through SuperStream, employers, superannuation funds, service providers and the ATO interact in a standardised and streamlined manner, improving the timeliness of processing both contributions and rollovers whilst simultaneously reducing errors.
SMSFs will already be familiar with Electronic Service Addresses (ESA) which allows SMSFs to receive contribution data via SuperStream from employers.
From 1st October 2021, SMSFs are required to process rollovers and release authorities via a SuperStream compliant process. Through Wrkr, SMSFs can now achieve SuperStream compliance for rollover and release authority processing in an easy to use and cost-effective system. Wrkr is fully compliant as a SMSF messaging provider with the ATO - our status can be checked here.