Are you signed up to the ATO’s small business super clearing house?

Mar 27, 2018 | Superannuation

SBSCH ATO Superannuation Clearing House

The ATO’s small business superannuation clearing house (SBSCH) is a convenient service that allows a small business to make superannuation contributions for its employees in one single payment. It’s important to know that access to the service has recently changed significantly. In this article we explain the steps you need to take to ensure your business can continue using the service.

Although the SBSCH itself hasn’t changed, the service has been migrated to the ATO’s Business Portal. This means your old login details will no longer work and you need to arrange access to the new system as soon as possible (if you haven’t done so already).

Despite this minor inconvenience, the change benefits small businesses because they can now access a number of the ATO’s tax and superannuation services using one set of login details.

The way you access the SBSCH depends on your business type.

  • Small businesses with an ABN can now access the service through the Business Portal. If you’re already using this portal, you can access the SBSCH from the “Manage Employees” menu. If you need to arrange access to the portal, you will first need to set up an approved authentication credential. You can choose from either AUSkey  or Manage ABN Connections.
  • Sole traders, individuals who employ others, or businesses without an ABN can access the service through their myGov account.

Your accountant or tax professional can also manage your contributions through the SBSCH on your behalf.

If you have been using the ATO’s SBSCH, you need to update your settings before you do your March quarterly Superannuation payment for staff.

 

Never used the SBSCH?

The SBSCH is a free service that makes it easier for small businesses to comply with their superannuation obligations. The service is available to any business with less than 20 employees or an annual aggregated turnover of less than $10 million.

After joining and updating the system with your employees’ details, you only need to make a single electronic payment to the service and it will distribute the separate contributions to each employee’s fund. Your employer obligations are met when the SBSCH receives your payment.

The SBSCH also allows you to nominate staff who are authorised to use the service on behalf of your business.

What other options are available?

You do not need to use the ATO’s superannuation clearing house.  There are other options available.  Most online software providers such as Xero, MYOB, Quicken have a superannuation portal integrated into their software.  If you are already using the software Superannuation Portal, you do not need to make any changes.

Need some assistance?

Has your business done everything it can to make superannuation compliance as easy as possible? If you need to set up access to the new SBSCH, or if you’ve never used the service and would like to sign up, contact our office for assistance.