Deputy Commissioner James O’Halloran said small businesses that need extra time to become SuperStream compliant will not be punished for missing the 30 June deadline. Instead, they will be given until 28 October to implement a SuperStream solution that suits their needs – and the ATO will continue to offer a helping hand.
“Many businesses that have taken the time to find a SuperStream solution and have it up and running are experiencing the benefits, including an average time saving of 70 per cent in meeting their superannuation obligations,” O’Halloran said.
“This is also great news for the 88 per cent or more than 10.5 million employees who are now receiving their super contributions in their accounts much quicker and with greater certainty due to SuperStream.”
For more information about SuperStream, visit the ATO website. For help with SuperStream preparation, use the ATO’s employer checklist or register for a webinar.
