Call (07) 4151 8898 

ATO supporting small business to implement SuperStream

As the SuperStream rollout for small businesses continues, the ATO claims that it is helping employers in select industries who need support implementing SuperStream.

Employers with 20 or more employees were expected to be using SuperStream no later than 31 October 2015.  Employers with 19 or fewer employees need to be using SuperStream no later than 30 June 2016.

The ATO has also stated: “With only two quarters left until SuperStream becomes mandatory, now is a good time for employers to adopt SuperStream and familiarise themselves with it before the deadline.

“For some businesses, December and January are quieter periods, so now is a great opportunity to check that your SuperStream option is ready, whether that be your payroll software, your super fund’s online payment system, or a clearing house, such as the ATO’s Small Business Superannuation Clearing House.  You can also ask your accountant or bookkeeper for help.”

Now is also the ideal time for employers to make sure they have all the information they need to use SuperStream correctly: “Importantly, you should collect the necessary employee identification data – being your employees’ TFNs and their funds’ unique super identifiers (USIs) – and enter it into your system ahead of the next quarterly due date on 28 January.  That way, you have time to check that things are running smoothly before the deadline.

“Your employees can find their fund’s USI on their super statement or by calling their fund.  You can also find these details using the Super Fund Lookup website – our online SuperStream checklist has the link.”

The ATO step-by-step checklist to help employers prepare can be found at here.

Recent Posts

VIEW ALL

Subscribe to keep informed!

Sign up for The Money Edge's Money Tips!



First Name
Email Address