Medium and large employers: Get on to SuperStream
National Tax & Accountants’ Association Ltd
The ATO has reminded medium to large employers (i.e., with 20 or more employees) who are not yet using SuperStream that they only have until 31 October to adopt SuperStream to make their super contributions.
From 1 November, the ATO will be focusing on employers who have been identified as noncompliant with SuperStream. The ATO said that it will continue to help employers adopt SuperStream, but there could be penalties for those who deliberately choose not to adopt it.
With the majority (90%) of medium and large businesses already using SuperStream, it says that all remaining employers are urged to investigate their options and adopt SuperStream now.
Options available for employers to adopt SuperStream, include:
- upgrading payroll software;
- using a clearing house service; or
- using their default super fund’s portal.
Ref: ATO Media Release 7 September 2015
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