The Small Business Superannuation Clearing House is joining ATO online services. Find out what it means for your business.Rebecca Bendikov
Since the introduction of SuperStream in Australia, the Small Business Superannuation Clearing House (SBSCH) has provided small businesses and sole traders with an easy option to make SuperStream compliant contributions. On 26 February 2018, the SBSCH will join existing Australian Tax Office (ATO) services. This means that once you have finished updating your bookkeeping for the period in Cashflow Manager you will only have to visit one place to share your information with the ATO. You will be able to access services like lodging your BAS, managing accounts, updating business registration details, and making SuperStream contributions from the same location.
The ATO has advised us that the current SBSCH system will be available for you to make super guarantee (SG) payments up until close of business Monday 19 February 2018. If you pay SG monthly, you should complete your payments before this date.
How will this change impact Cashflow Manager customers?
The good news is, if you’re a Cashflow Manager GOLD or Wages Manager customer we have done the work for you and you don’t need to change anything you are doing within the program. In the most recent version of our program, we already have a Superannuation Remittance report which shows you all your employees, their super fund details and their super contributions. All you have to do is login to the SBSCH and enter the super payment amount for each employee.
The main changes you must take note of will be around where and how you access the SBSCH:
- Small business – If you run a small business, the SBSCH will become part of the Business Portal. Access is through either of the following credentials used to identify you and your business:
- Manage ABN Connections – through your myGov account
- Sole Traders or Withholding Payer Number (WPN) holders – If you are a sole trader or don’t have an ABN, access to the SBSCH will be through your myGov account. Once you have logged in and selected the ATO services link, you will go to the ATO online homepage and the Small Business Superannuation Clearing House will be one of the options listed.
- Tax Professionals – If you are a tax professional you will be able to continue using the SBSCH on behalf of your clients when the new look SBSCH joins the Tax and BAS Agent Portals in February. You will find it under the ‘Manage Employees’ menu.