The government wants to improve the superannuation system and
bring it into the modern electronic world through the introduction
of SuperStream, and this includes for SMSFs.
For small business
Under the new system, employers must interact electronically
using approved software.
Employers with 20 or more employees should have already started
using SuperStream from July 1 last year, but smaller employers
(those with 19 or fewer employees) have until July 1, 2015 to start
to comply.
Small business owners need to get their skates on to be ready in
time.One relatively easy option for small employers is to use the
Small Business Superannuation Clearing House to do all your
superannuation for you. This online government service is already
SuperStream ready, so small employers can save themselves the
hassle of implementing SuperStream.
