THE Australian Taxation Office is warning Busselton and Dunsborough employers that the SuperStream deadline is closing fast.
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From June 30 all West Australian, medium to large employers are expected to be SuperStream compliant.
The ATO urges those responsible for super contribution employment payments to start considering their options now.
Once using SuperStream, employers will send super contributions electronically in a standard format, with linked data and payments.
It provides a consistent method of preparing contributions and a single channel for interacting with multiple funds. ATO’s National Program Manager Data Standards and E-Commerce Philip Hind said employers shouldn’t wait until the end of the financial year to get ready.
“I recommend employers start using SuperStream one to two payment cycles before the deadline to allow them to become comfortable using the new standard before it becomes compulsory on 30 June 2015,” Mr Hind said.
“For employers who pay quarterly, there are only two payment dates before June 30 so we strongly urge these employers to ensure they have a SuperStream solution in place as soon as possible.”
