Employers with fewer than 20 employees need to start using the standard from 1 July 2015.
“A data and e-commerce standard is being introduced that will make it possible for you to send contributions to all funds in one standard electronic form, removing the need to submit this information to separate funds in different formats.
The standard will make processing easier and result in:
- fewer data quality issues
- a simpler, more consistent contribution process
- fewer lost accounts and unclaimed monies
- faster processing of employees’ money into their super account
- lower overall processing costs
For more information, employers should visit Employers superannuation – home
Employers with 20 or more employees must use the new data and e-commerce standard from 1 July 2014.
Employers with fewer than 20 employees need to start using the standard from 1 July 2015. This is currently subject to further consultation and may change.
What you need to do
If you prefer to process your super contributions for staff yourself, you can work with your payroll supplier to meet the new data and e-commerce standard. Other partners, including accountants and clearing houses, will be able to help as well.
If you are a small business with fewer than 20 employees the Small Business Superannuation Clearing House is available to help you meet your super guarantee obligations”