help for small businesses
Businesses with less than 20 employees can use the free Small Business Superannuation Clearing House (SBSCH) service administered by ATO.
When registering with the SBSCH, employers will need to provide details about the business and their employees, and have up to 21 days to register the employee’s choice of super fund with the SBSCH. Business owners can also nominate another individual to use the SBSCH on their behalf such as a payroll officer or bookkeeper.
This service is a good way to reduce red tape and compliance costs as it allows smaller employers to pay their super guarantee contributions to multiple funds via a single location in one simple electronic transaction.
More details about the service can be found at the SBSCH website.
more articles about: guide to superannuation
- employer obligations
- superannuation reforms
- how superannuation works
- should they stay or should they go?
- superannuation contribution changes
- compliance options
- changes to SMSF Levy
- super contributions caps
- how to set up a super for an employee
- how much to pay and when
- help for small businesses
- modern awards
- insurance requirements
- salary sacrifice
- boosting employee super
- superannuation guarantee age limit
- records you need to keep
- the importance of communication