Govt grants more time on SuperStream

Superannuation funds have been given more time to get their SuperStream data standards in place.

The Minister for Finance and acting Assistant Treasurer, Senator Mathias Cormann said that superannuation funds were being given up to 1 July, next year, to meet the new SuperStream standards.

He said the move was aimed at providing increased flexibility for the superannuation industry as it continues to make the necessary changes to implement the SuperStream contributions data standards.

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The Government has faced numerous submissions from the superannuation industry outlining difficulties being experienced in meeting the original SuperStream deadline.

Cormann said the ATO would provide more information to industry through their regular consultative forums.

He said the Government remained committed to the effective implementation of the SuperStream reforms in close cooperation with all stakeholders.

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