Macquarie Bank Employer superannuation contributions and electronic messaging instruction
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MC009 02/17
Employer information
SuperStream standards
The Australian Taxation Office (ATO) has recently written to certain trustees of self managed super funds (SMSF) regarding changes to
processing employer super contributions under SuperStream.
The letter advised that SMSF trustees who are preparing to receive super contributions from an employer with 20 or more employees will
need to provide their employer with the following information:
• the SMSF’s ABN
• the SMSF’s bank account or BPAY payment details for receiving contribution payments
• the electronic service address of their nominated electronic message service provider for receiving contribution data messages.
How does this affect employers?
Under the SuperStream standard, employers contributing to superannuation on behalf of their employees must do so by sending
contribution data and associated payments electronically to their employee’s superannuation fund.
Where an employee has requested employer contributions be paid to their SMSF, employers may need to collect and store the above SMSF
information to be able to send contribution data and payments electronically to the fund in accordance with the SuperStream standard.
There is no prescribed format for employees to provide this SMSF information to their employers and the ATO has requested employers to
support various channels including email to receive this information.
Employers are also encouraged to talk to their HR or payroll solution provider about how to store and integrate the new data within their HR
or payroll software.
More information
Find out more about SuperStream at www.ato.gov.au/SuperStream or email superstreamstandards@ato.gov.au
Contribution details
If an employee has requested for contributions to be paid to their SMSF’s Macquarie cash account, payments can be made as follows:
1. Contribute via direct credit (electronic funds transfer):
a) logon to internet banking or telephone banking
b) select the ‘funds payment’ option and follow the instructions to enter the BSB and account number for the SMSF’s Macquarie cash
account (provided on this form)
c) wait for and record the receipt number.
2. Contribute via BPAY
®
:
a) logon to internet banking or telephone banking
b) select the ‘B
PAY
®
’ or ‘bill payment’ option and follow the instructions to enter the biller code, Customer Reference Number (CRN)/
BPAY
®
Reference Number and contribution amount
c) wait for and record the receipt number.
• Biller code – 667022
• Reference number – the Macquarie cash account number
Please note that B
PAY
®
contributions can take up to three business days to process.
To make multiple contributions, repeat the processes above.
Contribution messages also need to be sent electronically. If an employee has requested contribution messages to be sent to Macquarie,
use the following electronic service address: MACQUARIESMSF
®
Registered to Bpay Pty Ltd ABN 69 079 137 518.
The Macquarie Cash Management Account and the Macquarie Consolidator Cash Account are deposits with Macquarie Bank Limited ABN 46 008 583 542 (MBL). As a licensed
Australian bank, MBL is subject to regulation by the Australian Prudential Regulation Authority. MBL also holds Australian Financial Services Licence No. 237502 and is subject to
regulation by the Australian Securities and Investments Commission. Fees and charges may be payable. Terms and conditions apply and are available on request.
