Large employers (20 or more employees) had to adopt Superstream standards from 31 October 2015 and as you’d be well aware smaller employers (less than 20 employees) must also be compliant by 30th June 2016.
The Australian Taxation Office (ATO) is encouraging employers to cross SuperStream off their ‘to-do’ list ahead of the 30 June 2016 deadline and cut time spent on super administration.
The ATO has advised us that your clients may receive an email, SMS, or letter from the ATO about the 30 June 2016 deadline.
All employers need to use SuperStream when paying super. This means paying super and sending employee information electronically in a standard format. This will result in a simpler process and more streamlined payments.
If your clients are not already paying super using SuperStream, it’s important they get started soon. The next quarterly super payment cycle is due in April and is a good opportunity for them to start using SuperStream.
Your clients can register for an ATO SuperStream webinar for extra help.
Over a quarter million small businesses have already adopted Superstream and most are seeing super administration cut by 70% from Superstream use which is a very compelling business case!
For any further updates, we suggest you refer to the ATO website.