There are only 4 days left to get ready for SuperStream and the Australian Tax Office (ATO) is urging small businesses who have not done so to act now.
SuperStream requires employers in small businesses (ie those with 19 or fewer employees) to send all super payments and employee information electronically in a standard format. Using it will be mandatory from 28 October 2016.
“The super industry is ready to help, so initiate contact and open the conversation with a SuperStream expert,” urged Deputy Commissioner, ATO, James O’Halloran.
Accountants and bookkeepers can provide this expert SuperStream advice. Support may also be available from your super fund, payroll system provider, messaging portal provider or by contacting your super clearing house.
The Commissioner is assuring business owners that even if they don't operate electronically, or only pay super to a few employees, there is a SuperStream solution to suit them.
Set-up is a one off task, and once done, using SuperStream for each cycle should be relatively simple.