Innovate Services - BAS + Tax + Accounting for Small Business

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How can you use the Small Business Superannuation Clearing House?

The Small Business Superannuation Clearing House allows small businesses of 19 or fewer employees to pay their super guarantee contributions in one simple transaction. The clearing house is a free online service provided by the Australian Government through the Australian Taxation Office.

You use the clearing house to pay super for all your employees through a single payment. The clearing house will then distribute the money to each employee's super fund according to your instructions.

With the clearing house, you can:

• nominate a regular amount for each employee or change the amount when you submit a payment

• meet your super guarantee (SG) obligations as soon as your payment and instructions are accepted by the clearing house by following the clearing house terms and conditions

• pay online to meet SuperStream requirements

• see records of your past super contributions

You access the clearing house using your ABN and the ATO Business Portal. Select Manage employees in the left menu then select Small Business Superannuation Clearing House.

You must register to use the Clearing House for the first time and then you follow the payment guidelines to ensure that you meet the date requirements.

If you intend to claim a tax deduction for super payments you make for employees in the 2020-21 income year, those payments must be accepted by the SBSCH on or before 23 June 2021.

The next quarterly due date for super guarantee payments is:

28 July 2021

To allow for normal processing times and system maintenance, submit your payments and instructions in the clearing house by:

5.30pm on 23 July 2021

Due to planned system maintenance the clearing house will be unavailable from:

11.30pm 24 July 2021 to 7.00am 25 July 2021

If you would like to work with us to streamline your payments, send us an email info@innovateservices.com.au