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ATO extends SuperStream deadline

ATO extends SuperStream deadline

Tim Stewart
— 1 minute read

The Australian Taxation Office has pushed out the 30 June SuperStream deadline for mid-sized employers that are making "genuine attempts" to prepare for the new electronic super contributions regime.

Large and mid-sized employers that are not yet 'SuperStream-ready' will have an extra four months to comply, said the ATO.

ATO national program manager for data standards and e-commerce (SuperStream), Philip Hind, said the tax office understands some businesses are unlikely to make the upcoming compliance date and will need more time.

Mr Hind spoke to InvestorDaily about early trials of the SuperStream system in September last year.

"Employers should be making sure they are putting plans in place now and come up-to-speed as soon as possible.

"We want to ensure businesses do not rush into this at the last minute, but take the time to get ready and ensure they get their implementation right," he said previously. 

While the ATO will not be taking compliance action against employers with 20 or more employees that miss the deadline, it will be "working closely" with employers to provide "education and support".

"Those employers making genuine attempts to get ready will be offered some flexibility to become fully SuperStream compliant in the coming months.

"Where necessary, we will work with employers having difficulties to help them transition to the new requirements," he said.

"Tens of thousands" of employers have already implemented SuperStream, Mr Hind said.

"Many employers have already committed to become SuperStream ready with the number of SuperStream contributions made each month already surpassing the one million mark. This will continue to grow as more employers come on board.

"Once fully implemented, SuperStream will provide employers with a consistent process for making super contributions. In many cases, this will enable them to submit a single contribution for their employees rather than have multiple interactions in different formats previously required by each fund," Mr Hind said.

"SuperStream for small employers with 19 or fewer employers starts from 1 July 2015. The ATO is part-way through a series of regional events around the country to explain the changes and what it means for local employers," the ATO said.

 

ATO extends SuperStream deadline
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