AFEI Online Adviser Article

 

SuperStream Deadlines Reminder

Published: 5 June 2015

All employers have to comply with the Australian Tax Office (ATO) SuperStream requirements.  They must make super contributions on behalf of their employees by submitting data and payments electronically in accordance with the SuperStream standard.

Medium to large employers (those with 20 or more employees)  must complete their SuperStream implementation by no later than 30 June 2015. This deadline has now been extended by the ATO to 31 October 2015.

For small employers with 19 or less employees, SuperStream  implementation starts on 1 July this year and implementation must be completed by 30 June 2016.

AFEI provided members with details of SuperStream requirements in All Member Circulars 142/2014 and 160/2014.

According to the ATO, SuperStream is a government reform aimed at improving the efficiency of the superannuation system.

There are optional methods  available for employers in the way they adopt SuperStream. This may include upgrading their current payroll software, using a clearing house service or their default super fund’s portal. Members are reminded to check the security of their payroll data which is sent to third party external providers (see AFEI All Member Circular 160/2014).

The ATO has set up the SuperStream Certified Product Register so employers can check that  payroll software and other service providers meet SuperStream requirements.

The ATO has also provided a step-by-step checklist to help employers prepare, at ato.gov.au/SuperStreamChecklist.

 

 

More information:
For further information and assistance contact the AFEI Hotline on 02 9264 2000.


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