From the 1st July 2016, the ATO is requiring all employers to comply with new regulations relating to the payments of superannuation. SuperStream is a package of reforms designed to enhance the 'back office' of superannuation and is part of the Australian Government's Stronger Super reform.
SuperStream provides a simpler, consistent method for making super contributions, registering new employee super accounts and providing associated data. There are a number of options available for employers to use which ensure they meet the new reporting requirements. These include software packages such as Xero and MYOB, as well as Clearing Houses provided by the ATO, Retail, and Industry Funds.
If we haven't already done so a member of our team will be contacting you shortly to ensure you are ready for the 1 July deadline.
More information can be found here and a video explaining further can be found here.