Super Stream – Paying your own and your Staff Superannuation



From 31 October all businesses must be ‘super stream ready’. This means you must include an ESA (Electronic Service Address) with your payment. Your employees should let you know what the ESA is for their super fund.

We strongly advise clients with fewer than 20 employees to avoid administrative headaches and use the ATO’s Superannuation Clearing House for all employee (and if you wish also your own) superannuation contributions.

Here is the link to set this up:

https://www.ato.gov.au/business/super-for-employers/paying-super-contributions/small-business-superannuation-clearing-house/

It is quite easy and once set up paying super is a breeze. We have used it at Medical Accounting for many years.

One of the many advantages is that you do not need to be concerned about super stream, the clearing house takes care of all that. You also have only one payment to make.

What if you have your own SMSF?


If you pay into your own SMSF, for yourself or an associated person (i.e. your spouse) you can ignore super stream. You just make the payment.......You can add your own fund to the clearing house, if you wish, in which case you will need the ESA for your fund. All funds we administer have the same ESA: SMSFDATAFLOW.

If you do not have your own SMSF, but a public fund in which you want to pay, ask them their ESA and add the fund to your clearing house account and pay through this system. You can use the clearing house for both the minimum guarantee payment and any top ups.

You will also need your SMSF ESA if you want your superannuation contributions from other sources, e.g. hospital or other arms’ length employer, to be paid in your SMSF.

Finally, a plug for using Xero: once the clearing house is set up you can do all payments very easily through Xero, or we can, if you are inclined not to be bothered doing these things yourself.