The Australian Taxation Office have granted small business owners a slight reprieve to comply with SuperStream. While the compliance deadline was actually 30th June 2016, the ATO states that it recognises that some small businesses will require additional time to implement the required changes.
SuperStream requires super contributions for employees to be made electronically in a standard format. Although 450,000 small businesses are already registered and compliant, the ATO acknowledged some employers need more time to find an appropriate SuperStream solution for their business. Consequently, no compliance action will be taken against small businesses who missed the 30th June 2016 deadline but must ensure they are compliant by the 28th October 2016.
If you have any queries regarding you Superstream compliance obligations please don’t hesitate to contact our office.
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