It’s the final countdown to get ready for SuperStream and the Australian Tax Office (ATO) is urging small business yet to implement SuperStream to act now.
All businesses, regardless of size must be compliant with SuperStream by 30 June 2016.
SuperStream data is in a standard format to enable transmission consistently across the superannuation system – between employers, funds, service providers and the ATO. The data is linked to the payment by a unique payment reference number. Using SuperStream is mandatory from 1 July 2016!
The ATO’s free Superannuation Clearing House (for small businesses with 19 or fewer employees), Xero premium plans, MYOB’s PaySuper and Quickbooks Online Payroll, all offer SuperStream compliant services.
Set-up is a one off task, and once complete, using SuperStream for each payment cycle is simple.
Contact us today for more information!