1. SuperStream
(A short story of a not so funny topic)
This slideshow will help you understand upcoming important legislative changes to paying employee super
(via a new data and e-commerce standard)

2. Important
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This slideshow is not meant to replace advice from your accountant/financial & other
business advisors
It is meant to assist you in understanding the Australian Government‟s plans with regards to
superannuation & SuperStream
This information is current as of July 2013 & may be subject to change
Regularly check the ATO and Treasury websites for more information - see links at end of
this presentation
Please conduct your own research before making any decisions

3. Agenda
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A brief history of super & some key points about the new legislation
Employer milestones – when does action have to be taken?
How do employers meet the legislative needs?
What to do now?
Where to get more information
Close (finish singing)

4. A short history of superannuation
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Pre -1992 – lots of talk & fighting about retirement funds
1992 – Paul Keating confirms Compulsory Super @ 9%
1993 onwards – more fighting (different people)
2012 (Mar) legislation passed - increase super to 12% by 2019
Short/medium increases - 9.25% from 1 July 2013 and 10%-2015

5. Meanwhile, others were doing reviews…
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Cooper & Henry reviews highlighted deficiencies in Australian
super system. (WHAT? How is that possible?)
The aim of these reviews was to research ways to maximise
retirement income & make the superannuation system easier to
use for employers, employees and funds.

6. So the Government made changes to improve super
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A whole range of them, under a name called “Stronger Super”
One long awaited change – increase super to 12% by 2019 (too long for some!)
Here‟s a link on this (from Canberra) with more http://goo.gl/TmefW
Of particular interest are the changes affecting payroll
(processing & software)

7. These payroll changes included
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A Stronger Super component called “SuperStream”
Also sometimes referred to as the “Data & e-commerce standard” in some
documents e.g. Back to Business Bulletin, Australian Government July 2013
SuperStream is a bucket of things designed to make the back office of
superannuation go smoother
Here‟s a link on this, from our Canberra mates http://goo.gl/YyQ4J

8. One key point of SuperStream is electronic payments
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How?
Well, through the introduction of compulsory transaction or
data standards between employers & employees and
employers to superfunds.
Yup, employers and super funds need to send & receive
transactions electronically, in the same format.

9. ….electronic payments (continued)
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Tax file numbers (TFN‟S) will be the main “locator” of accounts
This same format will be used to submit information to different super funds
The “gov” started implementing changes in July 2011, starting with super funds
Super funds have to get their ducks in a row & get it all working by 1st July 2014

10. So WHAT! (you cry as an employer)
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Uh, well, from 1st July 2014, all employers (20+ employees) have to use
the new data standards…
“Give us an M, give us an A, N, D, A, T, O, R and Y – whaddya get?

11. So WHAT! (continued)
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As well as using the new standards, employers have to:
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Provide contribution data & super electronically
List super contribution payment /actual contributions paid, on employees‟ payslips
Choose a MySuper fund for employees who don‟t tell you where to pay their super (your default fund)
Share more employee details with super funds, including Tax File Numbers (TFN‟s)
So importantly, that‟s no more cheques, hard copy
reports,
faxing, emailing or posting of stuff related to super
payments!

12. So WHAT! (continued)
Pssst!
From 1st July 2015, even those with under 20
employees have to use the new standards too…

13. There are benefits, people!
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A consistent process to make contributions for all employees to all funds
Easier data/money reconciliation
Fewer lost accounts and unclaimed monies - reduced reverse workflow!
Less time “out of market” on member's funds
Hey, regulated by the ATO too!
More straight through processing, and longer-term, lower overall
processing costs, they say…

14. So two questions from here:
1. When exactly will employers have to implement
these changes?
2. How do they do this?

15. Q1 – When will employers have to implement?
Answer: Uh, ideally by end of Dec 2013 or earlier!
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Actually the exact date for compliance is 1st July 2014
The problem is there may be a scramble to get it all working in time!
In fact, it‟s expected that there will be a flood of action between April
to June 2014 (It‟s human nature, right?)
Here‟s the thing - there may not be enough time for software
vendors/clearing houses to help everyone with compliance, if too
many employers leave it too late!

16. Q2 – what do I need to do?
Employers using Sybiz Visipay Payroll have two choices:
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Deal with each fund, sending employee data through a gateway
Or
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Use SybizSuper to process super to funds

17. Uh, what‟s a gateway?
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A hub to facilitate the transfer of your super stuff /data to receiving funds
The employer sends a single contribution message in the data set required
The gateway will break it up and distribute to the relevant funds
The funds choose their own gateways – you don‟t get to do this, as the
employer

18. If your choice is 1 – i.e. deal with each fund
You then have to do this :
1. Format the contribution data file into XBRL (eXtensible
Business Reporting Language) so it looks nice
2. „Package‟ it, using ebMS 3.0 so it‟s properly addressed
and gets to the right place (NB this address is not a
street address, it‟s an electronic address)
3. Send the data using AS4 (secure transport mechanism
/protects the Tax File Numbers)

19. If your choice is 1 (cont.)
4. Ensure the data and payment share a unique 18 character reference number, so they can
be re-united at the fund (NB - you will need to remember the reference number because
it‟s used if a fund can‟t allocate or needs more information)
5. Identify the Gateway your default fund is using (or find one if you don‟t have a default fund)
6. Ensure the payment and data are sent on the same day
Easy, huh?

20. It looks sort of like this, if you‟re doing this direct:
Employer
Employer
Contribution
file
Contribution
file
Payroll
System
Contribution
file
Payroll
Officer
Bank a/c
Contribution
file
Contribution
file
Industry
XBRL
123456789123456789
ebMS 3.0
XBRL
987654321987654321
ebMS 3.0
XBRL
123654789987456321
ebMS 3.0
XBRL
852147963951753842
ebMS 3.0
XBRL
658247953216987452
Industry
Default
Fund
Fund
Fund
AS4
$$ 852147963951753842
Retail
Retail
Fund
Industry Fund
Fund
AS4
Default
$$ 123654789987456321
Corporate
Corporate
Corporate
Fund
Fund
Fund
AS4
Fund
AS4
Gateway
$$ 123456789123456789
Government
Government
Retail
Fund
Fund
Fund
$$ 987654321987654321
DIY / SMSF
$$ 65824795321698745
DIY SMSF
DIY / /SMSF
Fund
Fund
Fund
ebMS 3.0
* Graphic courtesy of SuperChoice

21. Or if your choice is 2 – i.e. use SybizSuper
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You may already be using a clearing house, but not using Sybiz Visipay
Payroll and SybizSuper (Or not using anything)
That‟s okay – have a look at SybizSuper!
Does all the admin (formats the data, packages it, & sends it securely)
Pays all funds with no extra effort, including SMSFs
Also, no need to change your payroll output
No need to identify your fund‟s gateway
Works with SuperChoice, one of Australia‟s largest clearing houses

22. With SybizSuper, it looks like this
Sybiz
Visipay
Payroll

23. There you have it…
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A short overview of Superstream/Data and e-commerce standard
What now?

24. First of all, get some idea of the time cost
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What‟s your admin costs of processing super, right now?
Keeping it simple, here‟s one way to work it out:
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Work out the approximate # hours cost to process super payments
Then X per week/fortnightly or monthly/quarterly to get annual time cost
Then X by average hourly salary of payroll team member
= Total

25. Keep in mind that there may be other time “suckers:”
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How many funds do you would deal with? (More funds, more time)
Also, consider payment mechanisms!
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For example, one fund may require individual BPAY‟s at either member
level or by contribution type – i.e. one account for SG, another for
salary sacrifice
Don‟t forget to add in ALL time.
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In some businesses, the payroll team might process everything - in
others, there may be a split on reporting and payments - i.e. payroll
doing reporting and finance doing payments

26. Example
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Harry Potter Clay Factory with 50 staff, paid weekly
Approx weekly time to process super payments outside of payroll = 3 hours
3 hours X 52 weeks = 156
Using a salaried position of $75,000 per annum = approx. $38 per hour *
156 X 38 = $5,928 per annum = approximate admin cost of processing super
Why not find out the time required to process super payments in your business?
* No additional on costs included, and for simplicity sake, divide annual by 52 by 38 hours per week

27. Now that you know this, what now?
1. You can do nothing and wait OR
2. You could do more research (use our links at the end) OR
3. Order a free demonstration of SybizSuper
Why not understand how it all works and the costs and savings?
(When choosing 3, call Sybiz on 1300 179 249, or email us sybiz@sybiz.com or hit reply and
order your demonstration from the person who emailed you this slideshow)

28. Book a demo now & get preferred access to Webinar
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The SybizSuper demonstration includes a booking to our “Ask the
Experts” SuperStream webinar
This webinar will allow Sybiz customers a chance to ask their
SuperStream specific questions direct to industry experts
Take action and book a demonstration – spaces are limited!

29. Some sites for more information, but not limited to:
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http://strongersuper.treasury.gov.au/content/publications/
information_pack/downloads/information_pack.pdf
http://www.superannuation.asn.au/
http://www2.superchoice.com.au/
www.sybiz.com
Too much
doggone*
information…
*Expression : used to express feelings
of annoyance, surprise, or pleasure.

30. See you soon…