iqATO has been certified with the Australian Taxation Office (ATO) and links super funds with the online Super TFN Integrity Check (SuperTICK) service.
The SuperTICK service verifies member information and only processes correct details, resolves identity issues and reduces the paperwork involved in the superannuation administration process.
Vision Super required the mandatory SuperTICK to be implemented by mid-October 2013.
Vision Super head of information systems Richard Crow said there were a number of challenges associated with meeting the compliance requirements for this SuperStream initiative since it was necessary to meet a variety of legislative and technology changes required by MySuper, APRA Reporting, SuperStream and the ATO in a short period.
“The key reason for our selection of iqATO from IQ Group was the fact that the module was already commercially available and fully certified by the ATO, which in turn greatly reduced our risk of not being compliant within the necessary timeframe,” said Mr Crow. Mr Crow stated that if they had internally developed and certified their own solution the whole process could have resulted in a delay.
IQ Group will also maintain industry compliance for the iqATO module, eliminating maintenance and outsourcing issues for Vision Super.
General manager for IQ Group Solutions Panos Alexandratos said the iqATO module reduces the burden of meeting the many changes related to Stronger Super and SuperStream on the limited resources within an organisation.
“Modules such as iqATO can assist super funds meet key compliance requirements and provide peace of mind that another key deadline has been met from a date and technology perspective,” he said.
