The Australian Taxation Office (ATO) reports that more than 60% of small businesses are already on board with SuperStream, but also warns that if your business is one of tardy, you have a mere 100 days remaining to get it done.
With the June 30 deadline rapidly approaching, the ATO is encouraging small businesses to make becoming SuperStream ready a priority; please click here to view the full step-by-step guide.
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 including using a payroll system that meets the SuperStream standard, a superfund’s online system, a super clearing house or a messaging portal.
Should you have any queries, please don’t hesitate to contact our office on 07 3394 2311.
The Hoffman Kelly Team