The ATO website is not clear on the circumstances in which the use of Superstream by SMSFs is obligatory. The text at https://www.ato.gov.au/super/superstream/self-managed-super-funds states, under the heading Exemption, "Your SMSF doesn't need to use SuperStream unless the SMSF receives employer contributions, or the employer contributions are only from a related-party employer." I infer from this that my SMSF is exempt from using Superstream when rolling money out to another super fund. However, www.ato.gov.au/Super/Self-managed-super-funds/Contributions-and-rollovers/SuperStream-rollovers-and-release-authorities-for-SMSFs/ states “From 1 October 2021, to rollover any super to or from your SMSF, you will need to use SuperStream. These changes will impact your SMSF if your members want to:
- rollover funds to your SMSF, such as transferring money from any other super fund to your SMSF
- rollover funds from your SMSF, which includes when you are winding up your SMSF
- receive and action certain release authorities including first home super saver (FHSS) scheme more quickly via SuperStream."
Does my SMSF need to use Superstream to roll funds to another super fund?
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