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.
As part of this, 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
BGL & Australia Post
We have partnered with Australia Post to provide SuperStream Services to our clients.
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 $7 + GST per fund, per annum for this service*
The SuperStream screen allows you to register fund(s) with Australia Post so that contribution data can be delivered to Australia Post and retrieved by BGL. You can then download the data into Simple Fund Desktop.Learn More
* Invoicing and renewals will be handled by Australia Post.
What your clients need to provide
Following registration/setup in your BGL software, your clients (SMSF trustees) will need to provide the following information to their employer in order to receive contribution in accordance with the new SuperStream standard:
- Self Managed Super Fund name
- The BGL Electronic Service Address (ESA) AUSPOSTSMSF
- BSB and Account Number
Note: If your clients (SMSF trustees) register directly with Australia Post they will be charged $50 plus GST per annum for the service.
There is no proper inter connectivity between SuperStream Gateways.
Therefore, if you or your clients do not register with Australia Post ie register with another SuperStream Gateway, you will not be able to load SuperStream data into Simple Fund 360 or Simple Fund Desktop software.