ATO pushes small businesses to get SuperStream ready

AUSTRALIAN small businesses have 100 days to become "SuperStream ready" as the superannuation standardisation system is implemented.

With June 30 rapidly approaching, the Australian Taxation Office (ATO) is encouraging small businesses to make becoming SuperStream ready a priority.

More than 60 per cent of all Australia's small businesses are already on board with SuperStream.

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. 

Deputy Commissioner James O'Halloran said there are a number of options businesses can choose to become SuperStream ready.

These include using a payroll system that meets the SuperStream standard, a superfund's online system, a super clearing house or a messaging portal.

Some businesses may already use one of these options to pay super, and those businesses only need to initiate a
few simple changes to meet the SuperStream standard.

"Some small business owners, who are currently using SuperStream, have reportedly cut time spent on super processing by around 70 per cent each cycle," Mr O'Halloran said.

"We recognise that businesses operate differently and that's why there's more than one SuperStream option to choose from. This enables individual employers to select how SuperStream best fits into your business.

"The super industry is prepared and ready to help you, so contact your chosen SuperStream solution service provider to ask questions and seek advice.

"If you're worried you won't be able to use SuperStream as you don't operate electronically, be assured that there is a SuperStream option to suit every business. 

"You can also use a third party, such as your bookkeeper or accountant as they can pay your super using SuperStream on your behalf. "

Mr O'Halloran said now is the time for employers putting off SuperStream to make it number one on their to-do list.
"By taking action, now employers can use the coming months to set up SuperStream. 

This will ensure things are running smoothly in you will be able to avoid any last minute stress as the 30 June deadline approaches.

"Regardless of the SuperStream option you choose, now is the time - before the deadline - to overcome concerns and create real efficiencies with SuperStream," he said.

Gympie Times

Topics:  business small business superannuation

New round of AGL email scams hits Gympie

SCAMMED: Tracy Salter, vicitim of a malicious email scam.

AGL customers are urged to be cautious due to a new email scam.

Man's meat cleaver rage after stuffed toy thrown on fire


Inskip camper 'lost the plot', threatened woman with meat cleaver

Vets and horse owners to be more protected from Hendra

A quarantine notice on a property suspected of having a Hendra outbreak.

Hendra report tabled - 11 recommendations made

Local Partners

New youth worker removes stigmas around sex

Sexual health worker employed at Community Action Youth Service

Hoo8Hoo hitting all the right notes

PERFECT HARMONY: Brothers Tim (left) and Sam Aitken, aka Hoo8Hoo, will be hitting the Gympie stage on Sunday afternoon for the Rush Festival concert.

Brothers Tim and Sam Aitken will be taking to the stage as Hoo8Hoo.

5 fab things to do this weekend

TaxiridePhoto Contributed

This weekend is jam-packed with fun (and ofetn free) things to do.

What's happening in your community

NOW HEAR THIS: What's on around Gympie region this week.

Community Diary for October 21-23

In Flames are super 'proud' of new album

In Flames album to be released in November.  Photo Contributed

In Flames to release new album in November

Selma Blair blames flight outburst on 'psychotic blackout'

Selma Blair

"I am someone who should never drink, and I rarely do"

Bob Dylan acknowledges Nobel Prize win

Bob Dylan has finally acknowledged his Nobel Prize win

WATCH: Trailer for Jackman's final Wolverine film released

First trailer for the last Wolverine film with Hugh Jackman.

Thrilling trailer promises a dark, dystopian finale for Wolverine

CCTV footage surfaces of Kim Kardashian West's robbers

The blurry footage shows three men on bikes and two on foot

New $200 million development will create 580 jobs

Cassie And Josh with baby Alfie and daughter Andee. They have bought at new Lennox Head development Epiq.

Majority of new positions will be given to Northern Rivers locals

Cherrabah's mega resort plans axed

PLANS for a massive development at Cherrabah have been scrapped.

What our mayor thinks of the new draft SEQPlan

The plan to use the innovative technology as part of the new Maroochydore CBD was cemented on site today when Mayor Mark Jamieson and Envac Asia Region president Chun Yong Ha formally signed the contract for the $20 million underground waste collection system.

New plan accommodates Sunshine Coast Council's vision for growth.

Dusit Thani finance crisis 'just a small hiccup'

ON TRACK: Springfield Land Chairman, Maha Sinnathamby, Ipswich Mayor Paul Pisasale, Developer Richard Turner and Springfield Land Deputy Chairman, Bob Sharpless, at the recent resort sod turning ceremony.

Property developer says project remains firmly on track

Heavyweight enters real estate market

Des Besanko principal and director of Raine and Horne Springfield.

Major rebranding which has seen two big name brands merge

SEQ is the 'greatest market': property guru John McGrath

SPEAKER: John McGrath of McGrath Estate Agents is today's guest speaker at the Better Business Breakfast.

SEQ is the "greatest" real estate market, says property guru.