ATO reminds employers to take advantage of SuperStream compliance flexibility
The ATO is reminding large and medium employers they must be SuperStream compliant by no later than 31 October.
The ATO previously announced it would allow these employers (those with 20 or more employees) an additional four months to adopt SuperStream, following the 30 June deadline.
With the extended deadline now rapidly approaching, the ATO says it will soon turn its attention to identifying those employers not compliant with SuperStream.
Philip Hind, ATO National Program Manager, Data Standards and E-Commerce (SuperStream), said they are pleased to see that the majority of medium and large businesses are already using SuperStream and has a clear message for the small percentage of medium and large employers who are not yet compliant.
“For the minority of medium and large employers who are not yet using SuperStream, you need to act now to adopt SuperStream by 31 October. Over 90 per cent of medium and large businesses are now using SuperStream to make their super contributions,” he said.
“From 1 November we will be focussing on employers who have been identified as non-compliant with SuperStream.”
Mr Hind says the ATO will continue to help employers adopt SuperStream, but there could be penalties for those who deliberately choose not to adopt it.
“We have been working with the super industry to identify areas where employers may need additional guidance to become SuperStream compliant. Our focus is to help employers adopt SuperStream, but if employers choose not to comply there may be penalties applied.
“Of course, our preference is to ensure all employers are able to start using SuperStream and benefit from the potential time and cost savings, but deliberate non-compliance will inevitably attract our attention.”
Mr Hind says there are a variety of options available for employers to adopt SuperStream, including upgrading payroll software, using a clearing house service or their default super fund’s portal and that feedback from employers has been positive.
“We’re hearing about employers who have experienced an enormous reduction in the amount of time it takes to process super.”
With the majority of medium and large businesses already using SuperStream, all remaining employers are urged to investigate their options and adopt SuperStream now.
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