Self-managed super funds (SMSFs) are a way for people to manage their own superannuation as opposed to through a retailer superannuation fund.
As a prerequisite, every SMSF first needs their own ABN registered with ATO. Please speak with your Accountant for more information on setting up an SMSF.
Each SMSF needs to be able to receive superannuation contributions via a SuperStream Gateway, or ESA. That's where Colladium comes in.
When your employer processes your superannuation contributions, they will send the information to your ESA, and the payment to your nominated bank account.
It's the information that will be sent to Colladium, if you have registered to receive them there.
Using the SMSF gateway on Colladium
See these articles:
- How to setup an SMSF: https://support.colladium.com/en/support/solutions/articles/7000097603
- How to view and download contributions: https://support.colladium.com/en/support/solutions/articles/7000097640
- How to let your employer know your new ESA (download an ESA form): https://support.messagexchange.com/en/support/solutions/articles/7000097639
Glossary
Here are some terms you may come across:
| Contribution | Money that goes into your fund (has to be in a Superstream standard, including SMSF). |
| Rollover | Moving money from one fund to another. Not currently supported in Colladium SMSF. |
| Trustee | Person who owns their SMSF account (can still be managed by an accountant). |
| ESA | Electronic Service Address are unique IDs that are registered with ATO, and we download the full registry from ATO daily. When a trustee starts an SMSF, they must provide the ESA to their employer to tell them where to send the superannuation contributions. Contributions then get sent to the trustee’s bank account, and the data gets sent to their ESA. Now that we are offering this product, we have our own: “COLLADIUMSMSF” |
| IRR | Initiate Rollover Request = requesting someone to transfer to them - inbound to current fund, e.g if you move from fund A to fund B, an IRR gets sent from B to A saying to move funds |
| RTR | Rollover transaction request = trying to transfer money from one fund to another, e.g if you move from fund A to fund B, an RTR goes from A to B saying that funds are being sent |