Calling all employers!
You may be aware that the ATO SuperStream deadline is looming. If you’re not aware, you will no doubt be asking, ‘What is SuperStream?’
In short, SuperStream is a government initiative created to improve the efficiency of the superannuation sys-tem using a process that streamlines superannuation payments and employee data. After June 30, all employers with 19 or fewer employees will need to make super contributions on behalf of their employees by submitting data and payments electronically.
While it makes things easier if you’re using online accounting software, it does require action on your part to ensure you are lodging correctly. With just one more quarterly payment to be made, businesses need to be ATO SuperStream compliant by 30 June 2016 or risk being penalised by the ATO.
Please call us if you need more information on setting up your super stream payments.