All businesses should now be SuperStream compliant. The ATO has published a useful step-by-step guide on its website to assist you with this. Click here to review this guide.
If you have 19 or fewer employees, or a turnover of less than $2 million a year, you can use the ATO's free Small Business Super Clearing House. Alternatively, you can choose from several commercial options or, your super fund may have a clearing house you can use.
Wage Easy is compatible with the SuperStream standard however you may still wish to choose to use a super clearing house instead.
Before The End of Financial year (EOFY Check)
- Determine your last pay period
- Check your company and employee details are up-to-date
- Set up Reportable Employer Superannuation Contribution (RESC)
Check that any employees with a Salary Sacrifice for Superannuation have the Reportable Employer Superannuation Contribution (RESC) option setup
- Run the Wage Easy Queries
If you have a RESC, you will need to install and run a query to update the reports
End of Financial year reporting checklist
- Reconcile Superannuation
Compare the Superannuation Report in Wagemaster/Wage Easy for whole year against the Superannuation Report from Agrimaster
- Reconcile Wages in Wagemaster
Cross check the wages tax withheld for the period reconciles with Agrimaster.
- Reconcile Wages in Agrimaster
- Process Payment Summaries and ATO Summary file