What is SuperStream? - BUSSQ

What is SuperStream?

The Government introduced SuperStream to implement standard requirements for all employers when sending superannuation contributions on behalf of employees.

Under SuperStream, employers need to pay super contributions for employees electronically and send the associated data electronically also.

Employers are required to provide the following mandatory information relating to employees with each contribution received:

Full name
Residential address
Tax File Number
Contact phone number

Where we don’t receive this information from you, we will assume that you do not have the information.

What if I don’t have the required information?
You are not required to provide the employee information noted above if your employee has not given the information to you, provided you have made reasonable efforts to obtain the information from the employee.

BUSSQ can help you to be SuperStream compliant

EmployerAccess
The BUSSQ EmployerAccess online payment system will ensure you are compliant with SuperStream and is easy to use.  

BUSSQ Clearing House
If you use BUSSQ as your default fund, our clearing house - SCH Online is available at no cost!

What are the advantages of using BUSSQ’s clearing house facility? 

  • It saves time – simplifying the distribution of your super contribution payments will save you (or your payroll personnel) hours each pay cycle. You can either upload the data or enter it manually.
  • Flexible pay cycle – you will be able to make payments monthly or quarterly.
  • Flexible payment options – SCH Online accepts payments by EFT, Bpay and direct debit.
  • Reports – You can download reports detailing payments received, distributions, transaction history and more.
  • Peace of mind – payments are processed via a secure online platform.
  • Multiple levels of payment authorisation – provides your business with internal security as one person can input information while authorisation of the payment can be assigned to a second person.
  • A dedicated team on hand to assist you with any queries. Call us on 1800 856 722.

  

BUSSQ SPIN Code/USI: BUS0002AU