Quarter of SMEs risking SuperStream non-compliance

The ATO is urging small businesses to prepare for SuperStream, with the deadline just over a week away and a quarter of small businesses risking non-compliance.

ATO assistant commissioner Nicole Dykstra says the deadline has already been extended to 28 October from 30 June and the ATO “will not be granting any further extensions for businesses who have not implemented SuperStream”.

Businesses with 19 or fewer employees have just one super guarantee payment date left.

“The ATO is pleased that more than 75 per cent of small businesses are already SuperStream-compliant. However, there is still a way to go to ensure everyone has made the switch,” Ms Dykstra said.

“If small businesses haven’t adopted SuperStream by the deadline, they are at risk of being non-compliant.

Last month, a survey by MYOB found some business owners were confused about SuperStream.

“The ATO has announced big changes for SMEs. SMEs are telling us they are confused and unaware of the deadlines set against them,” MYOB’s general manager of SME solutions James Scollay said.

promoted stories

SUBSCRIBE TO THE SMSF ADVISER BULLETIN

Strategy