SuperStream deadline is almost here!

Small Business employers with 19 or fewer employees have until 30 June 2016 to be SuperStream compliant – that’s only 14 days away!

SuperStream is the new standard for processing superannuation data and payments electronically between employers, superannuation funds and the ATO and is mandatory from 1 July 2016.  SuperStream is designed to increase the speed and efficiency of processing and allows employers to make super contributions in a single payment, even when it’s to multiple funds.  You can select how your business becomes SuperStream ready, with options including using accounting software or a payroll system that meets the standard, a super fund’s online system, or a super clearing house like the ATO’s Small Business Super Clearing House (SBSCH).  Once the setup process has been implemented, most businesses find that SuperStream has increased efficiencies in their quarterly superannuation processes.

The ATO have advised they will be focusing their attention on those employers who have been identified as non-compliant with SuperStream following the deadline.  It is therefore extremely important to ensure that you are ready for these changes to keep the ATO from knocking on your door.

If you are unsure how to implement SuperStream or want to check if you are compliant, make sure to contact us before the 30 June 2016 deadline.

Noosa Superannuation Accountants & Financial Advisors Sunshine Coast QLD

Stratogen Accounting consists of a team of expert accountants and highly qualified financial advisors who assist with all aspects wealth creation including self managed super fund (SMSF).  Our accounting firm’s head office is located at Noosa on the QLD Sunshine Coast. Our expertise is unparalleled and thus we work with clients living interstate around Australia and internationally.

We offer the full range of services expected of a leading edge accounting firm. Our personal services for individuals include accounting, tax returns, superannuation funds and financial planning, estate planning, insolvency services and asset protection. Our approach to both our clients is practical, open and honest.

Call (07) 5474 0711  Email Us  Make an Enquiry

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