ATO extends support to small business industries to implement SuperStream

business-opportunityAs the SuperStream rollout for small businesses continues, the Australian Taxation Office (ATO) is assisting employers in select industries who may need support to implement SuperStream.

 

business-opportunity

As the SuperStream rollout for small businesses continues, the Australian Taxation Office (ATO) is assisting employers in select industries who may need support to implement SuperStream.

The ATO has recently commenced an intensive communication program, delivering practical help and information via email and SMS to registered businesses across 22 industries. They are contacting the relevant industry associations and hosting dedicated SuperStream online information sessions (webinars).

Philip Hind, ATO’s National Program Manager, Data Standards & E-Commerce (SuperStream), said the ATO had data which indicated particular types of small businesses may need more practical support to start using the new, streamlined super payment process. These businesses typically rely on manual processes and lack close business support partners. They are particularly prominent in industries such as trades, hospitality, agriculture and construction.

“Over 350,000 businesses nationwide have already made the switch to SuperStream, including around 250,000 small employers,” he said.

“The priority for us now is to provide practical help and support to those who make superannuation payments on behalf of their employees, particularly those that aren’t frequently online or connected.”

Business owners who have yet to implement SuperStream are urged to take advantage of the ATO’s practical support and start preparing now.

“There are many options available to prepare for SuperStream,” Mr Hind Said. “The ATO’s employer checklist is a great place to start, or speak with your service provider, whether it is your accountant, bookkeeper, payroll provider, clearing house or super fund. They can help you become SuperStream compliant.

“We’re getting positive feedback from those that have already begun implementation. Until recently, they had to make multiple super contributions to many different funds, often using cheque and varying electronic methods. For a lot of employers, paying super took hours – now it’s reduced to minutes.”

SuperStream started for small businesses with 19 or fewer employees on 1 July this year and they have until 30 June 2016 to be fully compliant.

More information on the 22 industries in focus, including a list of webinars, is available on the ATO website.

The ATO step-by-step checklist to help employers prepare can be found at www.ato.gov.au/SuperStreamChecklist.

 

 

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