The Australian Tax Office (ATO) has given small businesses some breathing space by extending the deadline for compliance with the new SuperSteam to October 28 this year.

As we told you in our blog in May – Super Stream – Will Your Business Be Compliant – SuperStream has been introduced by the ATO to standardise processing of superannuation data and payments electronicly. This allows the process of employers paying superannuation entitlements to employees far more streamlined.

The ATO has reported that more than 450,000 small businesses across Australia have successfully made the transition to SuperStream. But they also recognise that other small businesses may need more time to make sure they are compliant with the new rules.

If your business needs some assistance in moving your small business to SuperStream, please do not hesitate to contact us for more information.

“This information has been prepared without taking into account your objectives, financial situation or needs. Because of this, you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation or needs”.