ATO SuperStream compliance extension for large employers

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SuperStream, large employers, extension, "compliance flexibility", ATO, APRAThe ATO has announced four months of “compliance flexibility” for large and medium employers getting ready for SuperStream.

Large and medium employers are scheduled to be fully SuperStream compliant from 30 June 2015. However Philip Hind, ATO’s National Program Manager for Data Standards & E-Commerce (SuperStream), has said the ATO will “extend its compliance flexibility to employers who are not yet SuperStream-ready by four months until 31 October 2015.”

“Employers should be making sure they are putting plans in place now and come up-to-speed as soon as possible. We want to ensure businesses do not rush into this at the last minute, but take the time to get ready and ensure they get their implementation right,” he said.

Employers with 20 or more employees were required to start using SuperStream from 1 July 2014 and be fully compliant by 30 June 2015. Small employers (19 or fewer employees) must start using SuperStream from 1 July 2015 and complete implementation by 30 June 2016.

Mr Hind said the ATO wouldn’t take compliance action against employers who miss the deadline, but instead be “working closely” with employers to provide education and support.

“The ATO’s first priority is to help employers understand and comply with their SuperStream obligations,” he said.

“Those employers making genuine attempts to get ready will be offered some flexibility to become fully SuperStream compliant in the coming months. Where necessary, we will work with employers having difficulties to help them transition-in to the new requirements.”

APRA has written to RSE (Registrable Superannuation Entities) Licensees in regards to this compliance approach. APRA says “the ATO continues to support employers in their effort to implement SuperStream. This approach will not change from 1 July 2015. ”

“It is expected that it will take a number of contribution cycles post 1 July for some employers to transition to SuperStream. RSEs are expected to work with employers and assist them in completing their transition, including helping to rectify issues where possible.”

APRA says, after 31 October 2015, the ATO will “begin to apply a more active compliance approach which will initially focus on systemic issues affecting the implementation of SuperStream.”

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