By June 30 2016, businesses MUST meet the ATO SuperStream standards.
1. Paying superannuation contributions electronically
a. Through your accounting software e.g. Xero or MYOB
b. A Super Clearing House
c. Your fund’s online system
2. USI (Unique Superannuation Idenifier) codes for all super funds your employees are members of, including the fund’s ABN (Australian Business Number)
3. Collect your employee’s TFN (Tax File Number)
a. For some processing methods you will also require your employees:
i. personal details (address, full name, date of birth)
ii. email address
iii. member number
iv. bank details (for Self Managed Super Funds)
Not ready yet? Taste.E offer a comprehensive bookkeeping service and this includes Superannuation set up and processing. Why not bundle it with your BAS for June? We have custom forms to collect all your employee’s details and experience setting up all three compliant processing methods – so you can choose the method that suits YOUR business! Give us a call or click here to get in contact to get SuperStream ready today!
Check out this video from the ATO’s website to recap!