Hello all, Thought i'd share the Redwood Advisory update on SuperStream with Silverstackers. There are a number of our clients on the forum who would have already received the notification from us, however, many of you would have received a notification from your employer asking for your ESA. Our update provides the Redwood view, however, this will help Trustees themselves register for free with SMSFDATAFLOW and note for all our clients we have already lodged your details. Here you go http://redwoodadvisory.com.au/smsf-ready-superstream/ Happy to answer any questions, but note this is FREE and consult your administrator if they have a arrangement in place. Cheers and have a good weekend Ivan
I'm with esuperfund which is a registered ESA with the ATO so I take it all I have to do is inform my employer that everything stays the same?
G'day Caput, Out of interest did Esuper correspond with you re superstream? As I have a heap of their clients asking us what to do (which is fine!) So, I guess when you get an email from your eligible employer, your ESA will be ESUPERFUND. You will need to register to be compliant (unless Esuper has said something else) and Note, this code is only eligible for their clients, and they are bigger than us, so sorry Redwood Advisory doesn't have its own ESA!!!! refer to the link below for the eligible service providers https://www.ato.gov.au/Super/SuperStream/In-detail/Contributions/SMSF-messaging-service-providers/ Sorry I posted a link however we are getting a heap of questions ard this issue and thought I would address here given the topic had been raised. Hope that helps Cheers, Ivan
G'day Caput, I'd be pretty pissed if I was told to do it myself - they are a huge administrator and should upload the clients themselves (i'll leave it there) so like you saw in our blog, we registered all of Redwood clients, remember that alot of SMSF Trustees/ members may be travelling or overseas between time of release and 1 July so we take care of them. BTW - there is NO cost!!!! like I said in our blog its FREE!!!!!!!!!!!!! So IF you have a eligible employer you give them the Esuper ESA. Hope that helps mate Cheers, Ivan
I keep in mind that Esuperfund is a no frills SMSF so I'm happy and confident enough to do my own legwork.
Hello Ivan and thankyou for the suggestion of this ESA provider. Seems simple enough, hope it is enough for the ATO and employers understand what to actually do with the Notification form and in future, the messages they are supposed to send the account.
Hey mate, my pleasure, good news....they delayed implementation to 1 July 2015, attached is an email we sent to our clients: ------------------------------------------------------------------------------------ In the last fortnight we have provided instructions for our clients to comply with SuperStream contributions standards. The Federal government yesterday announced that the date by which superannuation funds must comply with the SuperStream contributions data standards has been pushed back to 1 July 2015. The ATO will provide more information to industry through its regular consultative forums in the near future and Redwood Advisory welcomes the delayed SuperStream compliance date, particularly as many SMSF members are currently preparing for year end compliance requirements. Further, the delayed release date will provide more time and greater certainty for employers and SMSF trustees/ members who still need to take action to comply with the SuperStream contribution standards. The delay in implementing the SuperStream contributions data standards provides certainty for SMSF trustees about when they need to provide information to their employer and obtain an electronic service address through an SMSF messaging provider. Redwood Advisory will communicate to communicate with our clients with updates to SuperStream and look out for our newsletter coming soon. Have a great day. Regards, Redwood Advisory SMSF Specialists | P 1300 790 110 | E [email protected] | W www.redwoodadvisory.com.au | A Level 40, 140 William Street, Melbourne VIC 3000
Boy they're all over the place on this. I'm glad on behalf of everyone who has NOT got an ESA but if it is as important as they've made it out to be you'd think they had done more to let everyone know it is coming. Or for that matter, let anyone know what the ESA actually....does...
Hi guys, Thought I would not start a new thread, however all SMSF Trustees should be aware that the ATO has implemented a new Penalty Regime for SMSFs for contraventions and non compliance issues. http://redwoodadvisory.com.au/ato-announces-new-penalties-for-smsfs/ Any questions please call Redwood Advisory on 1300 790 110 or email us at [email protected]. Also noted today that our friends at ASIC received a budget cut on surveillance Cheers, Ivan
Question, I have supplied my boss with the ESA for my SMSF fund. This was 2 months ago, I went out fishing on Friday 50 miles offshore and he was trying to get me all day for this address. When I came back I forwarded the ESA email to him, that was dated May 2014, with all these details. Now he is jumping up and down because there are many others in the company that are SMSF and didn't see this coming. He is complaining that his SMSF is charging him $180 a year just for the ESA. Does anyone know what options he has to try and avoid the $180? Is there a free electronic service that can be used? Thanks, Slam
G'day Slam, firsly there has been a extension for Superstream to 1 July 2015. Refer to the superstream thread on SS where i provided details. This should be FREE, you should not have to pay for this rubbish. 2 options: 1. Contact us and we will register you on our service which is free - contact details below. 2. use SMSF DATAFLOW and register direct. This is free and simple. Cheers, Ivan
Thanks Ivan, I'm all good, I'm with esuperfund which have their own electronic service address. I'll pass this info onto the others. Cheers, Slam
