#Superstream
SuperStream generating $2.4b in savings per year for superannuation fund members
Wednesday, 6 September 2017 Source: ATO Following a five-year rollout, superannuation members are now receiving an estimated $2.4 billion per year in savings thanks to SuperStream. SuperStream is one of the largest ever changes to Australia’s financial system, with an estimated investment across the industry of $1.5 billion. More than one million businesses have been involved […]
The SuperStream deadline (28 Oct) won’t be pushed back again, small businesses warned
Businesses with 19 or fewer employees have less than two weeks to transition to SuperStream – the new, mandatory electronic standard for paying superannuation contributions. “The Australian Taxation Office (ATO) is pleased that more than 75 per cent of small businesses are already SuperStream compliant however, there is still a way to go to ensure […]
SuperStream extension for small businesses
More than 450,000 small businesses have become SuperStream compliant ahead of the 30 June deadline. If your businesses will struggle to adopt the new payment standard in time, don’t worry: the ATO has announced it is extending the deadline by four months. Deputy Commissioner James O’Halloran said small businesses that need extra time to become SuperStream compliant will […]
SuperStream deadline fast approaching, businesses reminded
With just three weeks until small businesses must become SuperStream compliant, the Australian Tax Office (ATO) has urged those yet to implement the new standard to act now. From 1 July, it will be mandatory for employers with 19 or fewer staff to send all super payments and employee information electronically in a standard format using SuperStream. According to the […]
ATO extends SuperStream compliance date for medium and large businesses
Medium and large-sized businesses now have more time to ensure they are SuperStream compliant after the ATO extended the June 30 due date.
Key steps for complying with new SuperStream superannuation regime
Australian firms need to ensure payroll systems are up-to-date and supported by providers ahead of looming SuperStream deadlines.