What is Super Stream?

Super Stream is a government initiative that requires employers to pay and report superannuation for employees electronically.

It came into force on the 1st of July ’15 for larger employers, and is now in force for all employers from the 1st of July ’16. What does that mean for you? It means you’ve got to subscribe to an appropriate Super Stream programme, whereby you report to the industry fund or the super fund electronically, and you pay electronically, and that enables the government to track payments of when they’re being made, and how much is being paid. If you’d like more information, please email us via ask@cibaccountants.com.au, and feel free to look at our further videos on Super Stream on our YouTube Channel.