ATO warns SuperStream compliance flexibility running out

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ATO, SuperStream, large employers, medium employers, 30 June, 31 OctoberThe ATO is warning large and medium employers that the compliance flexibility for the SuperStream requirements ends on 31 October 2015.

The ATO previously announced four additional months past the 30 June deadline for employers to fully adopt the SuperStream data standard for superannuation contributions.

“With the extended deadline now rapidly approaching, the ATO says it will soon turn its attention to identifying those employers not compliant with SuperStream,” said an ATO statement.

ATO National Program Manager with responsibility for SuperStream, Philip Hind, was “pleased” that the majority of large and medium employers were already using SuperStream, but also “has a clear message for the small percentage of medium and large employers who are not yet compliant.”

“For the minority of medium and large employers who are not yet using SuperStream, you need to act now to adopt SuperStream by 31 October. Over 90 per cent of medium and large businesses are now using SuperStream to make their super contributions,” he said.

“From 1 November we will be focussing on employers who have been identified as non-compliant with SuperStream.”

The ATO will continue to assist employers to implement SuperStream, but there “could be penalties for those who deliberately choose not to adopt it.”

“We have been working with the super industry to identify areas where employers may need additional guidance to become SuperStream compliant. Our focus is to help employers adopt SuperStream, but if employers choose not to comply there may be penalties applied,” Mr Hind said.

“Of course, our preference is to ensure all employers are able to start using SuperStream and benefit from the potential time and cost savings, but deliberate non-compliance will inevitably attract our attention.”

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