ATO, Superannuation

SuperStream-ready services identified

SuperStream ATO

The SMSF digital service providers that are already SuperStream ready have been named by the ATO.

The ATO has revealed the SMSF digital service providers that are currently SuperStream ready and has announced it will continue to inform trustees and advisers when more of these organisations have achieved this status.

ATO superannuation and employer obligations director and rollover project manager Belinda Black told SMSF Association technical manager Mary Simmons during a recent video discussion there were six SMSF digital service providers currently compliant with the new rollover requirements and as such had already supplied their clients with an electronic service address.

“That includes e-superfund, ClickSuper, SMSF DataFlow, BGL, SuperMate and Australia Post,” Black said.

“We believe these providers will communicate [with] and support their clients to understand the upcoming changes.”

According to Black, not all SMSF digital service providers are intending to build and offer rollover and release authority services, but pointed out the ATO is currently working closely with the ones that are.

“Some are already in the process of completing a suite of testing, while others have scheduled to do so over the coming few months and they‘re all preparing to be ready to support their clients from 1 October,” she noted.

Given the situation is likely to continually change in the lead-up to the 1 October compliance deadline, she suggested trustees contact their current digital service provider directly to glean if they have any plans to add rollover and release authority services to their existing service proposition.

To this end, she said the regulator would also assist with further information regarding this process.

“On our website you can find a register of SMSF messaging providers. This will be updated as they onboard so everyone can see who is providing the rollover and release authority services,” she noted.

SMSF trustees and advisers can access this list using the ATO code QC 47550.

“If they search that [code], it will take them directly to the register and as I said that’s being regularly updated,” Black said.

During the same session, she confirmed the start date for when SMSFs will have to be SuperStream compliant.


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