Newsletter; SuperStream implementation now mandatory (almost) & Payroll tax rebate
SuperStream implementation now mandatory (almost)
SuperStream requires employers to make super contributions on behalf of all of their employees by submitting data and payments electronically in a consistent and simplified manner. Employers must now pay superannuation contributions electronically and submit the associated data electronically. The ATO has announced that it will provide compliance flexibility to small businesses that are not yet SuperStream ready until October 28.
Payroll tax rebate
A payroll tax liability arises in SA when an employer has a wage bill (including superannuation) in excess of $600,000 per year. Additional wages above this amount are subject to 4.95% payroll tax. That State Government has extended the current payroll tax rebate until 2020 (the rebate is 2.45% for employers with wages under $1m then phases out at $1.2m).
