Last ATO reminder about 30 June SuperStream deadline

Last ATO reminder about 30 June SuperStream deadline

Last ATO reminder about 30 June SuperStream deadline

Editor: I know we’ve been harping on about this a bit, but so has the ATO – no doubt they’re worried that a lot of smaller businesses (and maybe SMSFs) are ignoring this, and will claim ignorance when they’re hit with a penalty after 1 July. So we thought it was best to give it one more go as well!

With the 30 June 2016 deadline looming, the ATO strongly encourages small businesses to get on board with SuperStream ASAP.

SuperStream is the standardisation of how employers make super contributions on behalf of their employees, and involves employers sending all super payments and employee information electronically in a standard format.

Using it is mandatory.

Editor: Unless the employer and the SMSF are related parties…

Options for becoming ‘SuperStream ready’ include using:

  • a payroll system that meets the SuperStream standard;
  • a super fund’s online system; or
  • a messaging portal or a super clearing house like the ATO’s Small Business Super Clearing House (SBSCH).

The SBSCH is a free, optional service for small business with 19 of fewer employees, as well as businesses with an annual aggregated turnover of $2 million or less.

Deputy Commissioner James O’Halloran said “Completing SuperStream set up and using it prior to the 30 June deadline is very doable. If you have questions, today is the day to seek advice and put your plan in place.”

“If you’re worried you won’t be able to use SuperStream as you don’t operate electronically, be assured that there is a SuperStream option to suit every business.

“You may choose to use a third party, such as your bookkeeper or accountant, to pay your super using SuperStream on your behalf. If this appeals to you, contact them today to talk about it.”

Ref: ATO media release “Weeks to go until SuperStream deadline for small business”, 5 May 2016

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