Success Accounting Group’s Super Stream Solution for Employers before 30 June 2016
As you are preparing for your BAS returns this quarter, now is a good time to also review if your business is Super stream compliant and aim to implement way before the deadline of 30 June 2016.
Under SuperStream, you need to pay super contributions for your employees electronically (EFT or BPAY) and send the associated data electronically.
The data is in a standard format so it can be transmitted consistently across the super system – between employers, funds, service providers and the ATO. It’s linked to the payment by a unique payment reference number.
This means you can make all your contributions in a single transaction, even if they’re going to multiple super funds.
Small employers (19 or fewer employees) including your business must meet the SuperStream standard by 30 June 2016.
Accounting Answer: If you already pay super contributions using EFT or BPAY – am I SuperStream compliant?
No. Even though you are already paying electronically, you may not be sending the fund the information about the contribution required under SuperStream. The contribution information linked with each payment for each employee tells the fund exactly how to allocate the contribution.
To learn more please click on the link below,
Success Accounting Group’s Superstream Solution for Your Business
To help your business transition to Superstream before 30 June 2016, we offer a FREE review of whether your business is super stream compliant.
For complete peace of mind, our bookkeepers will review and set up to the super stream requirements for your business for an early bird investment of only $249 plus GST (from 1 to 10 employees) and is recommended it is done by the lodgement date of your quarter 3 BAS due on 25th May 2016.
Please come to see us first so we can go through the the SuperStream with you. Contact us today to review if your business is SuperStream Complaint.
About Lan Nguyen
Lan is the Founder and Chief Strategist at Success Accounting Group, Melbourne based CA firm. In a matter of short 8 years she has built up a reputable Chartered accounting firm with 3 offices and a team of 6 professional accountants and support team members. Her mission is to provide Innovative and Strategic Financial advice to help her customers make smarter financial decisions today for a brighter future.
Success Accounting Group is for established business owners who would like help to grow a sustained business. As a business owner you understand what drives your business success with our accounting team taking care of the rest.
Success and Wealth
Success Accounting Group Pty Ltd
Oakleigh, VIC, 3166
