Are you SuperStream ready?

Important changes to BGL’s SuperStream Service

SuperStream Update on Rollovers

From 1 October 2021, SuperStream will become mandatory for all SMSF rollovers – whether to a fund or from a fund. The ATO has said if an SMSF cannot process rollovers via SuperStream, amounts cannot be rolled out of a fund. BGL will provide you with a further SuperStream update as we get closer to the release date.

Visit ATO website to learn more about these important changes

How will this affect Simple Fund 360 clients?

BGL will fully support SuperStream rollovers in Simple Fund 360 by 1 October 2021. BGL will be adding a new Electronic Service Address (ESA) for SuperStream rollovers. Our relationship with Australia Post will continue for SuperStream contributions. Both services – contributions and rollovers – will continue to be free of charge in Simple Fund 360.

To process rollovers or Superstream for Release Authorities, you will need to use the new Electronic Service Address (ESA) from 1 October 2021. BGL will provide the new ESA and the ability to switch ESA before the start date of this service. You can continue to use the current Australia Post ESA for SuperStream contributions.

What do you need to do now?
At this stage, we ask you to ensure:

  • Your SMSF has an Australian Business Number (ABN)
  • Your SMSF details are up-to-date with the ATO. Specifically, you MUST make sure your SMSF bank account details are correct.

If you would like any further information or assistance, please reach out to your Account Manager by email or on 1300 654 401.

How will this affect Simple Fund Desktop clients?

As we have previously advised, SuperStream rollovers are NOT supported in Simple Fund Desktop. Simple Fund Desktop clients can continue their relationship with Australia Post to collect contribution and rollover data, but this data CANNOT be imported into Simple Fund Desktop. You may still receive an email from Australia Post with details of contributions and from November rollovers or you can login to your Australia Post account where these details are displayed.

If you would like any further information or assistance, please reach out to your Account Manager by email or on 1300 654 401.

What exactly is SuperStream?

SuperStream is the new standard for super transactions designed to improve the quality of data and improve processing efficiency for both employers and super funds. Our SuperStream Service will collect your contribution data from employers and distribute this data to your SMSF.

All trustees of SMSFs must comply with a new data and e-commerce standard. Employers will be able to send superannuation contributions and data to multiple funds in one standard electronic format, instead of sending information to separate funds in multiple formats.

What the ATO says

SuperStream is the way businesses must pay employee superannuation guarantee contributions to super funds.

Visit ATO website

Getting started

Simple Fund 360 Users

Australia Post does not charge for this service

The SuperStream page allows you to select and register fund(s) with Australia Post so that contribution data can come through directly into Simple Fund 360. Simple Fund 360 will then automatically load and allocate this data.

Learn More

Simple Fund Desktop Users

Australia Post charges $10 (including GST) per fund, per annum for this service*

You can register fund(s) with Australia Post so that contribution data can be delivered to Australia Post and still meet ATO requirements. SuperStream data will be available on the Australia Post website. For Rollovers and Release Authorities we recommend you contact Australia Post. SuperStream Contribution data will not be able to be loaded into Simple Fund Desktop after 1 July 2021.

Learn More

* Invoicing and renewals will be handled by Australia Post.

Important Notice

There is no proper inter-connectivity between SuperStream Gateways. Therefore, if you or your clients do not register with BGL or Australia Post, you will not be able to load SuperStream data into Simple Fund 360.