HOME ABOUT US ARTICLES BLOG FAQ CONTACT US
Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software
Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software

Articles Blog

Business Financials – SBSCH – Small Business Super Clearing House – Helping small business meet super obligations

 

images/Business Financials2.jpgThe Australian Tax Office (ATO) has a service called the Small Business Superannuation Clearing House, which is to help your small business (with less than 19 employees) meet its super obligations as employers. Here is what the ATO site says, and especially note what is new in the service, March 2018 –

The Small Business Superannuation Clearing House (SBSCH) is a free service (see note) you can use if you are a business with 19 or fewer employees, or have an annual aggregated turnover of less than $10 million.

You can make your super guarantee (SG) contributions as a single electronic payment to the SBSCH. It will then distribute the payments to each employee's super fund.

From 26 February 2018, the SBSCH is accessed via our online services. You can use the decision tool to determine which online service suits your situation and then use our step-by-step guides to help you get access.

See also: How to access the SBSCH via online services

To start using the new SBSCH, visit the ato.gov.au homepage and select your appropriate login.

Key features of the SBSCH

The SBSCH allows you to:

  • Make all your super contributions in one transaction with the SBSCH securely distributing super contributions to your employees’ nominated super funds;
  • Ensure your SG obligations are met as soon as your payment and instructions are accepted by the SBSCH (provided the fund does not reject them);
  • Nominate a regular contribution amount for an employee;
  • Access your transaction history whenever you need it;
  • Make payments in only a few minutes, once set up;
  • Access the system 24 hours a day, seven days a week;
  • Pay super the SuperStream way – with money and data being sent electronically in the standard format.

What's new

New features of the SBSCH are listed below:

  • The SBSCH bank account details have changed. The new details are available on the Payment Options screen when completing a Payment Instruction - update any saved BPAY payment references in your internet banking or other banking services;
  • The SBSCH is no longer accessible with a user ID and password authentication. Find out how to access the SBSCH via online services;
  • Using our online services, you can access to a range of tax and super services with one logon;
  • Using our online services, you can access to a range of tax and super services with one logon;
  • Web addresses for the old system have been redirected to this page - update any bookmarks that you have saved to the appropriate online service;
  • Payments can now be made by credit card. We use the Reserve Bank’s Government EasyPay service;
  • A payment reference number will be provided to you for paying by BPAY, Credit Card, or Direct Credit;
  • You can now save and manage multiple draft payment instructions - however you can only submit them one at a time;
  • There is now a sort function on employee listings;
  • SMSF details are checked for accuracy and a selectable list of SMSF electronic service addresses are available to choose from;
  • Web addresses for the old system have been redirected to this page - update any bookmarks that you have saved to the appropriate online service;
  • Payments can now be made by credit card. We use the Reserve Bank’s Government EasyPay service;
  • A payment reference number will be provided to you for paying by BPAY, Credit Card, or Direct Credit;
  • You can now save and manage multiple draft payment instructions - however you can only submit them one at a time;
  • There is now a sort function on employee listings;
  • SMSF details are checked for accuracy and a selectable list of SMSF electronic service addresses are available to choose from.

Need help? Not sure? Call for FREE 30min advice / strategy session today!

DOWNLOAD a FREE Bookkeeping Quarter Checklist” to get organised! CLICK HERE

Email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 0407 361 596 Australia
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~

Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software

CATEGORIES


CUSTOMER LOGIN





Forgot your password?
Forgot your username?
Create an account

YOUR CART

The cart is empty

Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software
Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software
© Account Keeping Plus 2012   |   Website Design by Low Cost Web Site Design Melbourne    |   Admin