• Team Cinch

Superstream - They make it sound more complicated than it is

Recently in the mail came a brouchure from the ATO making sure your small business is ready for (and aware of) the upcoming SuperStream requirements.

You will need to be reporting your employees super payments electronically. If you have less than 20 employees, you'll need to have this done by July 2015 (if you have more - you should already be doing it). *But here's the thing* - you shouldn't be waiting for July next year to do this. It's like the introduction of Internet Banking - it seems a little confusing at the time but it was a HUGE time and cost-saver for all businesses. The ATO runs a FREE super clearing house available to those with less than 20 employees which allows you to both lodge and pay ONCE electronically each quarter and they take care of the rest. If you're having trouble or you would like help getting set up - give us a call. :)