24 May Time is running out to get SuperStream ready

Mandatory – SuperStream Deadline is 30^th June 2016

A courtesy reminder that ALL employers (those who pay wages) must meet the SuperStream standard by the 30^th June 2016.

 
To use SuperStream, you need to pay super and send employee information electronically.  If you’re already doing this, you may only need to refine your system to send the contribution data in the standard format.  You can use:-

1. a payroll system that meets the SuperStream standard – XERO,  MYOB, Quickbooks etc
2. your super fund’s online system – contact the superannuation fund provider directly
3. a super clearing house– The ATO’s free service for anyone with <20 employees
4. a messaging portal – contact your provider directly

We recommend Option 1. For those clients already using Xero we can provide assistance in the setup of SuperStream.

For anyone using programs for their payroll other than Xero, you will need to contact your system provider directly and speak to them on how to become SuperStream compliant should you chose to use their facilities rather than the ATO provided super clearing house.

If you are not using an accounting system that is SuperStream compliant we can convert you to Xero over the next couple of months. Call and speak with Darren to discuss.

Information required for setting up SuperStream:

To use SuperStream you’ll need to ensure you have ALL the following information from your employees, in addition to the information you already use to pay super.

• Employee tax file number
• Fund ABN
• Fund unique superannuation identifier (USI)

If your employees have a self-managed super fund (SMSF), they need to give you slightly different information:-

• Employee tax file number
• Fund ABN
• Fund bank account details
• Fund electronic service address

For further information please go to the ATO’s site on Employers Checklist – a step-by-step guide:-
 
https://www.ato.gov.au/super/superstream/employers/employer-checklist–a-step-by-step-guide/
 
Should you need assistance or clarification with SuperStream, please contact the office on 9542 6669.