SMSF DataFlow Changes | February 2020

You may have recently received an e-mail stating that SMSF DataFlow will no longer be supported and will cease operation on 29 February 2020.

 

What is SMSF DataFlow? | SMSF DataFlow Changes February 2020

SMSFs need to receive employer super contributions using the Governments SuperStream Data and Payment Standard. Every SMSF that receives employer contributions needs an electronic service address (ESA) and the software to receive their SuperStream data.

That’s where SMSF DataFlow comes in as an open and portable service for the SMSF industry. Whilst the changes mean that new trustees or accountants are unable to utilise the service, here at Superfund Partners we will continue to use this service.

 

What does this mean for me? | SMSF DataFlow Changes February 2020

If you are a trustee client of Superfund Partners, there are no changes for you. We will continue to use the ESA for your benefit.

If you are not a current client and researching your options in SMSFs for your personal circumstance, please get in touch.

 

What do I need to do? | SMSF DataFlow Changes February 2020

As we will continue to utilise SMSF DataFlow, there are no actions to take on your end. Relax! We have it sorted.

However, in the meantime if you would like to get in touch to request Class Client View dashboard to view your contributions.

 

How Superfund Partners can help

We’re here to help set up, establish and transfer your Self-Managed Super Fund. Our expert team are well positioned to adequately diversify your SMSF and bring you the strategies that will bring your goals and dreams to life. Get in touch with us for a no obligation

 

Get in Touch with the Superfund Partners team

If you have any further questions about SMSF DataFlow or anything relating to your SMSF, please get in touch with the Superfund Partners team.

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We needed a better way to look after our SMSF clients. So we created one. We experienced first hand the frustration of the ‘old way’ of looking after SMSFs: Financial statements that were out of date by at least 6 months and of no use to anyone other than the ATO, high fees and poor value due to highly skilled and knowledgeable staff spending unnecessary time on laborious data entry and worst of all SMSF trustees not getting the right advice at the right time!