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MEMBER 57 writes:

“I have just watched an ATO webinar on SMSFs and was surprised to hear that ELS is being wound down and in the next couple of years lodgments are going to be required to be reported using SBR. I have to admit that I can’t really understand at the moment how this is going to work when quite a few of my clients aren’t using SBR enabled software (due to the cost of annual subscriptions when they just need the basic features), or for the many superfunds and small clients that I prepare the accounts for (also on an older version of software that is far more efficient). Do I have to have the latest version of accounting package for every single client and input every detail into that software, ie addresses, TFNs and addresses of employees, ABNs of all suppliers etc? It seems to me that with Superstream, single touch payroll etc we are just being forced into preparing everything on the latest software.”


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