SuperStream
Introduction
Employer contributions paid to an SMSF are subject to SuperStream, and as of 1 October 2021 those obligations have been extended to rollovers. (Full details can be found on the ATO website).
The primary requirement is for the SMSF to have an Electronic Service Address (ESA). This article summarises the options that are available in relation to setting up / maintaining an ESA.
ESA Providers – Contributions
There are currently a number of free options for Trustees, including:
- QuickSuper (provided by Westpac)
- Macquarie
ESA Providers – Rollovers
As the obligations have only just come into force, options in relation to rollovers are currently more limited, and include:
- Wrkr
- Australia Post (in progress)
Depending on the profile of the fund, the need to support rollovers will obviously not be a recurrent obligation. That is, a rollover-compliant ESA could be set up on a one-off basis. Regardless we will update this list as further information is available, including in relation to QuickSuper and Macquarie.
Please note: At the moment Mclowd is not registered as an SMSF messaging provider, but it is certainly part of our product roadmap.