The deadline is fast approaching for Employers to implement SuperStream and will become mandatory from 30th June 2016.

More than 60% of all Australia’s small businesses are already on board with SuperStream. If your business is not one of them, you’ve got just 90 days remaining to get it done. The Australian Taxation Office (ATO) is encouraging small businesses to make becoming SuperStream ready a priority.

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

There are a number of options your business can choose to become SuperStream ready. These include using a payroll system that meets the SuperStream standard, a superfund’s online system, a super clearing house or a messaging portal. Your business may already use one of these options to pay super, and if so, you may only need to initiate a few simple changes to meet the SuperStream standard.

The super industry is prepared and ready to help you, so contact your chosen SuperStream solution service provider to ask questions and seek advice.

If you don’t operate electronically, be assured that there is a SuperStream option to suit every business.

Please refer to the Australian Taxation Office website for further information;

https://www.ato.gov.au/super/superstream

If we can be of further assistance, please do not hesitate to contact us.