The ATO is warning small businesses who have yet to sign up to SuperStream that time is running out. With a deadline on 28 October 2016, businesses not set up are at risk of being not-compliant with no individual extensions to be granted. As mentioned in previous blogs, SuperStream is an electronic reporting standard for superannuation payments to staff. Luckily, 75% of small businesses are SuperStream compliant but there is still a way to go to make everyone compliant. The SuperStream system is designed to save administration time and costs.
If you are yet to set up your SuperStream now is the time to do so. Take a look at our ‘SuperStream Changes’ blog, visit the ATO for a step-by-step guide, or contact us to hear how we can make you compliant before the deadline.