The superstream changes start from 1 July 2014 for employers with 20 or more employees, and from 1 July 2015 for employers with fewer than 20 employees. Large employers have until 30 June 2015 to start using the new measures. Failure to do so will not incur penalties before 30 June 2015.
Recent changes to superannuation legislation, called Superstream, effects all employers and superannuation fund trustees. From 1 July 2014, employers with 20 or more employees are required to send contributions electronically to all superannuation funds, including self-managed superannuation funds. For employers with less than 20 employees, the new legislation starts on 1 July 2015.
Tax agent
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