Superstream Deadline is approaching

Thursday, 14 April 2016    Accounting,Superannuation

If you are an employer it is important you know about some changes in the way you pay super and that you take action now.

All employers need to use SuperStream when paying super. This means paying super and sending employee information electronically in a standard format.

If you are not already paying super using SuperStream it is important you get started soon. The next quarterly super payment cycle is due before 28 April and that is a good opportunity for you to start using SuperStream so you can ensure everything is in place by 30 June 2016 deadline.

There are a number of options you can choose to implement SuperStream, depending on what works best for your business.

1. Your Superfund's online system

2. A Clearing House

3. A payroll system that is SuperStream ready (like Xero)

4. A messaging portal

The ATO also offers the Small Business Superannuation Clearing House as a free online service that you can use. If you would like to register for this clearing house click here.

 We encourage you to get started now so that you are using SuperStream by 30 June 2016.