Basics about Super – Small Business Superannuation Clearing House – How does it help Small Business

Basics about Super – Small Business Superannuation Clearing House – How does it help Small Business

Small Business Superannuation Clearing House – How does it help Small Business

The Australian Tax Office (ATO) has a service called the Small Business Superannuation Clearing House, designed to help small business (with less than 19 employees) meet their super obligations as employers. Here is what the ATO site says –

The Small Business Superannuation Clearing House is a free, optional service for employers with 19 or fewer employees, as well as those businesses with an annual aggregated turnover of less than $2 million.

You can make your super guarantee (SG) contributions as a single electronic payment to the clearing house, which then distributes the payments to employees’ funds.

The clearing house is designed to reduce red tape and compliance costs for small business.

If you register to use this service:

  • Your super guarantee contributions are counted as being paid on the date the clearing house accepts them (so long as the fund does not reject the payments).
  • You have 21 days to pass an employee’s choice of fund on to the clearing house.

The page with links to Register (or Login if you have started) is HERE to use the Small Business Superannuation Clearing House.

Or Phone 1300 660 048 or email SBSCHEnquiries@sbsch.gov.au for information about the Small Business Superannuation Clearing House.

Using the Small Business Superannuation Clearing house will ensure you are SuperStream compliant by 1 July 2015.

For answers to questions such as –

What is SuperStream?

How will SuperStream benefit employers?

Who does SuperStream apply to?

When do I have to start using SuperStream?

What information do I need to collect from SMSFs?

Head to  Employer FAQs on SuperStream

Got questions? If you want experts who have years of helping others, without the hype – then call for a FREE strategy session today and also get your FREE Expert Guide – Self-Managed Super and Youtop right hand side above.

If you have any questions, why not give us a call – it’s FREE also!

No obligation. 0407 361 596, Paul.

Advertisements

About SuperBenefitnews

Self-Managed Superannuation Service Providers in Australia. SuperBenefit provides a wholistic SMSF assistance, education and administration service continuum - 1. “assistance” is help of whatsoever nature where our overall SMSF experience and knowledge enables us to provide assistance/help without any legal (or “license”) limitations. 2. “education” involves providing knowledge through teaching, coaching and mentoring about all matters SMSF, including (but not limited to) investment issues such as equities and property, 3. “administration” encompasses all admin aspects of legally required SMSF trustee and member record keeping including (but not limited to) audit and ATO matters. In keeping with our key point that SuperBenefit does not provide Financial Advice, where issues arise from 1, 2, and/or 3 above Indicate a need for a legally authorized provider (such as a Financial Adviser) and the client does not have their own service provider, the client can utilize SuperBenefit’s ‘Connect Assist’ … SuperBenefit, in itself, does not provide Financial Advice, but it does provide the wherewithal for great SMSF service. WE do not provide Financial Advice or any other service that requires a legally authorized provider. However, where such advice or service is required we have our ‘Connect Assist’, a SuperBenefit resource we use to connect clients to a Licensed Advisor or other legally authorised service provider. Call us 0407 361 596, no obligation FREE Connection call to see how we can help you!
This entry was posted in Basics about Super, Retirement Planning, Superannuation General and tagged , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s