Superstream

SuperStream is the name given to the package of proposals for improving the processing of everyday superannuation transactions.


As part of SuperStream, the Government intends to improve the quality of data in the system, allow the use of tax file numbers (TFNs) as the primary account identifier (from 1 July 2011), encourage the use of technology to improve processing efficiency, and improve the way fund-to-fund rollovers are processed and the way contributions are made.

Set out below are all SuperGuide articles explaining Superstream.

ATO levy hike for SMSFs   Super Guide

Effective from 2013/2014 year, the ATO supervisory levy for self-managed superannuation funds is set to jump again, increasing to $259 a year.

Shorten’s super scorecard: Hits and misses on his to do list   Super Guide

Two years ago, not long after Bill Shorten was appointed Assistant Treasurer and Minister for Financial Services and Superannuation, SuperGuide wrote an open letter to the Minister (published in September 2010) providing him with a superannuation (and retirement) to-do list.

Swan’s Mid year Outlook: Superannuation changes   Super Guide

On 22 October 2012, Federal Treasurer Wayne Swan released the Government’s 2012/2013 Mid-year Economic and Fiscal Outlook (MYEFO).

SMSF whack! Another 11% increase in ATO supervisory levy   Super Guide

Effective from the 2011/2012 year, the ATO supervisory levy for self-managed super funds has increased from $180 to $200. The levy hike is an 11% increase from the previous financial year, and a massive 400% increase from the ATO levy that was payable 5 years ago.

In September 2010, I published a to-do list of 16 major superannuation issues needing action by the Federal Government post the Federal election. I published this list in the form of a public memo, as a helping hand for the newly appointed Minister of Superannuation, Bill Shorten.

‘Stronger Super’ is the catch-cry heralding in the Federal Government’s response to the Cooper Review report on the superannuation system.

Hidden in the Federal Government’s response to the Cooper Review is a real doozey. The Government recommends that self-managed super funds be hit with a higher supervisory levy, effective from the 2010/2011 year.

Dear Mr Shorten – You have a busy few years ahead of you.

On 5 July, the Government released the final report of the Super System Review (Cooper Review). Although there won’t be an official response on the final report for several weeks, the Superannuation Minister…

The Super System Review (SSR) panel, in particular, chair Jeremy Cooper, has drawn a line in the sand and publicly stated that the SSR believe it’s possible to reduce the fees charged by super funds to a mere half a per cent, or even less. Go Mr Cooper!