The Small Business Superannuation Clearing House (SBSCH) is a free service 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 employees’ super fund. What a killer strategy!
The SBSCH reduces red tape and super compliance costs for small businesses.
Now, the exciting news is the Small Business Superannuation Clearing House (SBSCH) will join existing ATO online services in early 2018. Which makes it even more convenient to access.
ATO online services gives you access to a range of tax and super services with one logon, including lodging activity statements and updating your business registration details.
The current SBSCH system will be available prior to a brief transition period before the new look SBSCH is released. Information registered in the SBSCH will still be available in the new system, but the look and feel will be different.
As a result of integrating with ATO online services, the new look SBSCH will have functionality including the ability to sort employee listings and payment by credit card.