As you may already know, the ATO deadline is fast approaching for all businesses to be SuperStream compliant. Prior to 1 July 2016, only larger employers were required to be SuperStream compliant, however all employers must now comply. SuperStream is a major government reform aimed at improving the efficiency of the superannuation system. Under SuperStream, employers must make super contributions on behalf of their employees by electronically submitting payments and data.
By 30 June 2016, all businesses with employees must meet the new SuperStream requirements when sending superannuation contributions on behalf of their employees.
Most online accounting software packages have already taken the relevant steps to ensure their users will be SuperStream compliant, provided your software is up to date and the payroll function is used correctly. Many employers have also chosen to use third party clearing houses to ensure compliance with the rules.