Are you on top of employee super? It can be time consuming to manage, having to deal with multiple funds and keep on top of paperwork. Then they is the extraordinary time spent if you are audited.
The Small Business Superannuation Clearing House (SBSCH) within the ATO is a service that can make things easier for small businesses with 19 or fewer employees. The free service is optional.
While I don’t qualify to use the SBSCH, I checked it out this week for a newsagent I was helping out. I like that you can make a single payment instead of having to handle payments to multiple funds. It certainly offers a reduction in red tape as promised by the coalition parties prior to the last federal election.
Superannuation is one of those obligations newsagents can easily let fall behind because of the work involved. This facility from the government eliminates considerable work. It has been delivered as part of the election promise to reduce red tape. I encourage newsagents to check it out as any time saving has to be valuable.
Saving time on back office tasks can help you enjoy your business more.
I have used this since it first came out. It saves me a lot of time and hassle in making superannuation payments. I recommend it to everyone.
Xero has a great set up for super as well
All,
We use the SBSCH as well, its great.
I’m yet to be convinced of Zero – its charging model compared to MYOB is far too high – based on employee pay numbers.
But I’m not a real fan of MYOB either – just stuck with it – only a few years to retire!
John
User Xero, MYOB and Quick Books. Xero is by far the best.